Unemployment falls below 4 percent for first time since 2000

Unemployment falls below 4 percent for first time since 2000

The civilian labor force participation rate fell 0.1 percentage point to 62.8%.

"[Politicians are] using improvement in the numbers to ignore the disparities, but there's nearly no celebration to be had", Perry said before adding that African-Americans were "the sacrificial lambs for full employment".

If this sounds familiar, well, that's because it is. General Motors Company (NYSE: GM) topped the Fortune 500 list with $24.3 billion in revenue, the Dow traded years behind all-time highs in the low $800s and the S&P traded relatively low in the $90s. Only a short time ago, in 2009, we saw the jobless rate hit double digits.

April's increase in legal services employment paralleled the results of the USA economy overall, which added 164,000 jobs in the month, according to BLS. The previous monthly report showed a slowdown in employment growth at 103,000 new jobs.

For the past five months, on-site construction workers have been averaging year-over-year weekly earnings increases of almost +5.0%. As Alaska heads into its growing season, it may continue to be the "growth" sector for the state's economy. Unemployment dropped to 3.9%, the lowest since December 2000. Yet the decline owed to a shrinking labor force and fewer people saying they were unemployed instead of an increase in how many people found work. Economists used to think this happened at around 5 or 6 percent unemployment for no other reason than that sounded pretty low, but, well, it didn't. The big thing to me was cracking 4 (percent).

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Last Wednesday, the Federal Reserve met but opted to keep interest rates unchanged, though it still has a positive view of the economy, as analysts expect the central bank to hike rates when it meets in June.

An unemployment rate below the 4% level is a rare feat and is one-tenth of a percent stronger than economists had estimated. Since then, though, it's only 2 percent. However, March's wage gain was also revised down, from 2.7% to 2.6%.

The drop to 3.9 per cent comes after six consecutive months in which the employment rate remained stable at 4.1 per cent.

Sluggish wage growth and a slowdown in hiring threaten to undercut the Trump administration's argument that its $1.5 trillion income tax cut package, which came into effect in January and is highlighted by a sharp drop in the corporate income tax rate, would boost wages and hiring. He notes that employers are having an increasingly hard time finding qualified workers, creating pressure for them to raise wages.

Unemployment hasn't stayed below four percent for a sustained period since the 1960s.