According to The Bureau of Labor Statistics' September jobs report, U.S. employers added 248,000 new jobs in September, dropping the national unemployment rate to 5.9% and hitting a six-year low.

Not all the data is positive, however, as the labor participation rate declined a tenth of a point to 62.7% and wages remained stagnant at an average of $24.53/hourly in the private sector.

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Former Chairman of the Federal Reserve Alan Greenspan joined Maria Bartiromo on Sunday Morning Futures and said that the key issue in the intermediate and long-term economic future of our country is productivity.

A significant increase in hours worked - which is essentially what happened to create the good news in this most recent report - is indeed good news, but the downside is that it reveals a decrease in our productivity rate.

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Greenspan explained that is what's causing the slow growth in wages and a lot of our economy's long-term problems.

"What concerns me most is that until we can rectify that problem, our economy's long-term outlook is not very propitious," Greenspan said.

Watch the clip from Sunday Morning Futures above.

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