In April, only 3.9 percent of Americans who were looking for work couldn't find it, according to the jobs report released by the Labor Department Friday. The unemployment rate dropped to 3.9 percent in April, one of the lowest rates in recent history.
The overall unemployment rate is now the lowest since December 2000.
The USA Today said in a report that the Labor Department's announcement on Friday, May 4, confirmed that the US's unemployment scenario bettered in April from what it was in March (4.1 per cent) and also there was a job gain of 164,000, yet the news was "actually a mixed bag". That's the 91st consecutive month of jobs gains - a streak never seen before.
April's job gains was boosted by the manufacturing, health care and the professional and business services sector.
But while the number of jobs available increases, the actual number of new humans needed to fill these roles continues to dwindle.
Still, the jobs growth in April was lower than expected - economists in a Bloomberg survey had predicted 193,000 new jobs.
- Scott Paul of the Alliance for American Manufacturing called the month's manufacturing jobs data "great", and said fears of jobs lost to tariffs haven't come true.
Coming into this month, "wages showed a moderate 2.7 percent annual increase", NPR's John Ydstie reported.
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Even with the unemployment rate drifting further below Fed officials' estimates of levels sustainable in the long run, the report didn't indicate fresh upward pressure yet on wages and inflation.
In a sign that employers are having a hard time finding qualified workers, average hourly earnings rose 2.6 percent from a year ago.
According to ADP, U.S. nonfarm payroll employment increased in April by 241,000 jobs.
"Overall, it's a good report", said Michael Feroli, chief US economist at JPMorgan Chase & Co. Which is to say that we need a lower unemployment rate than we used to for workers to have the bargaining power they did before. Though the decline in the labor force accounted for the drop in the unemployment rate last month, labour market slack is diminishing. "The big thing to me was cracking 4", Trump told reporters. Black unemployment was the lowest on record and for women, it was the lowest since 2000.
Mining employment increased by 8,000 jobs during the month, but employment was little changed in construction, retail and wholesale trade, transportation and warehousing, financial activities and government, the BLS said.
The economy's modest growth has helped prevent it from overheating and skidding into another recession, as often happened during more robust expansions.
United States jobs growth slowed in April.