Economy Adds 164K New Jobs While Unemployment Dips

Economy Adds 164K New Jobs While Unemployment Dips

The unemployment rate in the US fell to the lowest level since December 2000, amounting to 3.9%.

The numbers: The economy generated a solid 164,000 jobs in April to push the unemployment rate below 4% for the first time since Bill Clinton was president, a sign the surging labor market shows no signs ebbing.

This number has been declining in recent years-a hint that more people who had given up on finding a job are now trying again and succeeding.

The Labor Department revised figures for March, with employers adding 135,000 jobs in March - nearly 30,000 more than previously estimated. He notes that employers are having an increasingly hard time finding qualified workers, creating pressure for them to raise wages. According to the Wall Street Journal, it has happened, "only a few times over the past 70 years - during the Korean War in the early 1950s, during the Vietnam War in the late 1960s and early 1970s, and during the tech boom of 2000".

But average hourly earnings could be understating wage inflation. Over the past year, wages have come up by an average of 67 cents, or 2.6 percent. However, wage growth was weaker than expected. Furthermore, this year's gains have remained robust, with a remarkable average of 200,000 jobs added per month, even stronger than last year's average of 182,000.

Unemployment in the USA hit a post Great Recession landmark, according to figures released Friday, while a separate report showed increased factory orders but declining capital investment for new factory equipment.

The mining sector added 8,000 jobs, extending its gains.

There had been a flawless storm of economic indicators building, as evidenced by the tight labor market, corporate America reporting solid earnings growth in the first quarter and more robust hiring in Q1 0218 versus Q1 2017, at 202,000 vs. 182,000, respectively. "Slack is getting absorbed" but "the process of that translating into faster wages has been slow". The economy needs to create roughly 120,000 jobs per month to keep up with growth in the working-age population.

Economists expect the unemployment rate will drop to 3.5 percent by the end of the year. They were not counted as unemployed because they had not searched for work in the four weeks preceding the survey.

The low unemployment rate means that the still-depressed levels of participation in the work force are hard to chalk up to a shortage of jobs. Eight years ago, the jobless rate was 10 percent. Many economists saw the April jobs report as confirming that forecast.

The US central bank on Wednesday left interest rates unchanged and said it expected annual inflation to run close to its "symmetric" 2 per cent target over the medium term.

"The April jobs report was lukewarm", Fannie Mae Chief Economist Doug Duncan said.

Related news:

Hot News

isis-killer-beheading-video-story-top Trump is biggest unknown in looming North Korea summit
May 06, 2018 - 00:01
Trump, speaking to reporters outside the White House, suggested activity was under way involving the captives. Trump has previously said the summit with North Korea will unfold in May or early June.

isis-killer-beheading-video-story-top NASA launches Atlas V mission to Mars
May 05, 2018 - 23:58
The spacecraft will also demonstrate a thruster system whose propellant is a compressed gas, R236FA, used in fire extinguishers. If the landing is a success, InSight will be the first spacecraft NASA has landed on Mars since the Curiosity rover in 2012.

isis-killer-beheading-video-story-top McIlroy eager to get over Masters hangover at Quail Hollow
May 04, 2018 - 13:56
Peterson carded a six-under 65 at Quail Hollow, thanks largely to back-to-back eagles at the seventh and eighth holes Thursday. Hatton and Peter Malnati each had a 4-under 67 and shared the early lead in the opening round of the Wells Fargo Championship .

isis-killer-beheading-video-story-top Cavs take 2-0 lead against Raptors
May 04, 2018 - 13:55
"He demanded the ball and we got it to him", said LeBron James who had 43 points and 14 assists alongside Love's breakout game. Raptors went into the game 6-1 all-time in playoff Game 2's at home, winners of four straight of those games.

isis-killer-beheading-video-story-top Boy Scouts Giving in to 'Politically Correct Bedwetters — Georgia Candidate
May 04, 2018 - 13:55
The Boy Scouts' youth participation is about 2.3 million, down from 2.6 million in 2013, and more than 4 million in peak years. After being known for 108 years as Boy Scouts the newly coed organization is dropping the "boys" from its name.

isis-killer-beheading-video-story-top Eight still trapped underground at Sibanye mine following seismic event
May 04, 2018 - 13:54
Sibanye shares fell 4.1% in Johannesburg, extending this year's decline to 29%. South Africa also has one of the deepest mines in the world.

isis-killer-beheading-video-story-top Kanye West gets destroyed over slavery remarks, calling it a choice Video
May 04, 2018 - 13:53
I am a proud non-reader of books. "To whom much is giving much is tested. get arrested I guess until he get the message". I know the music is gonna be fire, every time he drops it's a cultural moment, it's an event.

isis-killer-beheading-video-story-top Apple reveals $100bn share buyback despite iPhone surplus
May 03, 2018 - 16:01
That suggested the $1,000 flagship iPhone X didn't perform as well as some anticipated when it launched a year ago . But Apple's earnings show that demand for the iPhone X remains strong, said GlobalData analyst Avi Greengart.

isis-killer-beheading-video-story-top Plane crashes into road moments after take-off - police confirm 'no survivors'
May 03, 2018 - 16:00
The C-130 is a transport workhorse for the USA military , and Parsons described the crashed aircraft as a cargo plane . The investigation, which is underway, is being carried out by the National Guard Bureau and the Air Force, he said.

isis-killer-beheading-video-story-top Tesla Stock Dives After Bizarre Earnings Call
May 03, 2018 - 16:00
Prior to a planned shutdown of production to make the system more efficient, Tesla managed to reach 2,270 vehicles a week . What percentage of Model 3s delivered so far have already gone in to the shop? "Sorry, these questions are so tiresome ".

isis-killer-beheading-video-story-top Rahul Gandhi grades Modi 'F' for performance in Karnataka's agri sector
May 03, 2018 - 15:59
Addressing the farmers on Wednesday through Modi app, he blamed Siddaramaiah-led Government for its indifference towards farmers. It has been our way of thinking". "But he was sidelined and a Chief Minister was chosen by secret voting".

isis-killer-beheading-video-story-top Supreme Court Collegium Puts Off Decision on Justice KM Joseph's Recommendation
May 03, 2018 - 15:56
In a statement, the apex court said it took note of the letters it received from the Centre on 26 and 30 April . Last week, the Centre had refused to accept the decision of the collegium to elevate Justice Joseph.

isis-killer-beheading-video-story-top Strong tornadoes possible in central U.S. ; warmup arrives on East Coast
May 02, 2018 - 01:51
With the warmth building during the midweek, it will suddenly feel like summertime in the Northeast by Thursday and Friday. Another round of severe weather is possible for Wednesday, but the threat becomes more widespread across northeast Kansas.

isis-killer-beheading-video-story-top Armenian opposition leader's supporters gathering in Yerevan ahead of voting
May 02, 2018 - 01:51
Mr Sargsyan, who had served 10 years as president, stepped down on 23 April just days after being sworn in as PM. Pashinyan has said that the main task of any interim government is organizing the next parliamentary elections.

isis-killer-beheading-video-story-top NBA Conference Semi-Finals Previews and Predictions
May 02, 2018 - 01:48
LeBron averaged 45.0 points per over the last three home games of the series against IN and posted a triple-double IN the opener. The Cavaliers are going to have to get better production from their supporting cast to take pressure off James.