According to ‘The Employment Situation‘ report released by the U.S. Department of Labor’s Bureau of Labor Statistics, the unemployment rate in the United States dropped to 3.9%, while the economy added 164,000 jobs, in April.
After six months at 4.1%, unemployment finally broke below 4% for the first time since December, 2000. The economy has added jobs every month since October 2010, a 91-month stretch that ranks as the longest period of job growth on record.
Among the major worker groups, the unemployment rate for adult women decreased to 3.5 percent in April. The jobless rates for adult men (3.7 percent), teenagers (12.9 percent), Whites (3.6 percent), Blacks (6.6 percent), Asians (2.8 percent), and Hispanics (4.8 percent) showed little or no change over the month.
Many economists predict falling unemployment will push wages up further, as has already happened in industries like construction. The sector has added 257,000 jobs over the past year and industry wages have grown 3.5%.
The change in total nonfarm payroll employment for February 2018 was revised down from 326,000 to 324,000, and the change for March 2018 was revised up from 103,000 to 135,000. With these revisions, employment gains in February and March combined were 30,000 more than previously reported.
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