Historically low unemployment rate trending down

06 May, 2018, 16:41 | Author: Darnell Patrick
  • Economy-Productivity

With the unemployment rate falling to 3.9%, causing concern for employers about a labor shortage, companies may increasingly recruit workers who they have historically avoided.

Job growth amounted to a decent 164,000 last month, up from an upwardly revised 135,000 in March. This 91-month expansion has made it the longest span of job growth on record.

Federal Reserve officials are likely to look beyond the modest wage gains and stick to a path of gradual interest-rate hikes, while economists generally see the data as in line with a solid U.S.jobs picture that supports an eventual acceleration in wage growth.

The decline in the jobless rate resulted from a drop in the number of unemployed people, while the number of employed Americans was little changed.

In a report from CNBC, claims were numbered at 225,000 in the latest week polled, a less-then-expected number from economic analysts from the preceding week.

In other words, the natural rate of unemployment must be much, much lower than we thought. Some economists say that's because businesses are choosing to hire less educated or otherwise less "desirable" workers rather than offer more pay. The concept suggests that at 5%, everyone in an economy that wants a job, has a job. Among "prime-age" workers between the ages of 25 and 54, she said, there were more people leaving the labor force than finding jobs. "But my message to clients now is the more we get that kind of report going forward, the more I'm going to think we're closer to the end of the cycle".

- "The April employment report delivered a downside surprise for payrolls and threw a wrench into the recent wage momentum story".

"The unemployment rate - we saw that just today - just fell beneath 4 percent for the first time since the beginning of this century", Trump exclaimed triumphantly at a National Rifle Association conference in Texas.


"Wages haven't been able to break out of the 2.5% to 2.8% range", Panday said. Instead, like Apple, they are using the money to buy back shares and pay higher dividends - a win for investors.

Americans need rising wages to help offset higher prices and drive consumer spending, the backbone of the economy.

Economists interpreted symmetric to mean policymakers would not be too concerned with inflation overshooting the target.

Hiring gains in April were broad.

In the past three months the U.S. has added an average of roughly 208,000 jobs.

"We've seen great movement in jobs creation", she said.

President Donald Trump's tweet told the story: "4% is broken!" Continuing claims in the four-week average decreased by 15,500 to 1.83 million, all the lowest since the U.S. House of Representatives confirmed Gerald Ford as Vice President of the United States during the Nixon Administration. "3.9% Unemployment. 4% is Broken!" he said on Twitter.

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