Unemployment drops to 3.9 percent in April

06 May, 2018, 00:03 | Author: Natasha Holloway
  • This year the economy has added an average of 202,000 jobs each month

Employers added a modest 164,000 jobs in April, pushing the nation's unemployment rate down to 3.9 percent, the Labor Department said Friday.

"The big news in this morning's jobs report is that the unemployment rate edged down to 3.9%, the first time it has gone below 4.0% since 2000", Elise Gould, a senior economist at the Economics Policy Institute, wrote in a blogpost.

In all, the number of people receiving aid dropped 77,000 to 1.26 million after April 21. In addition, the so-called "real" unemployment rate, which includes discouraged, other "marginally attached" workers, fell from 8.0 percent to 7.8 percent, the lowest level since July 2001.

Economists polled by Reuters had forecast payrolls rising by 192,000 jobs in April and the unemployment rate falling to 4.0 percent.

The data pushed the dollar up against the pound and euro. The dollar pared losses against a basket of currencies and USA stock index futures trimmed losses.

While average hourly earnings have suggested only a gradual increase in wage inflation, other measures have been more robust.

Amazon to add 3000 tech jobs in Vancouver, Canada
Amazon shares ended the US Monday trading session in the red as Jeff Bezos' firm announced plans to expand its Vancouver tech hub. Hiring AI engineers will have an impact in multiple areas of the Amazon business , though Alexa is the most obvious beneficiary.

In April, employment in professional and business services increased by 54,000. The "all jobs" year-over-year percentage change is now +1.6%, with services at +1.7% and manufacturing, +2.0%. The central bank's key rate is now 1.5-1.75 per cent.

The Federal Reserve is likely to view the stable rate of pay as a sign of support for its cautious strategy of raising US interest rates.

Economists interpreted symmetric to mean policymakers would not be too concerned with inflation overshooting the target. An acceleration could force Fed officials to raise rates more aggressively, which would raise the cost of auto loans and credit card debt.

The US unemployment rate dropped to 3.9%.

The number of unemployed people, at 6.3 million, also dipped over the month. But strong wage growth could fan fears of an uptick in inflation, pushing them toward a fourth increase, Mr. Luzzetti said. Yet wage growth, the key number for stock market investors on edge about more Fed rate hikes, surprised on the downside, coming in at 2.6%. (The record to beat: nine months.) The streak defied the expectations of economists, who said the nation's prolonged hiring blitz - an average of 202,000 new positions each month in 2018 - was bound to drive the figure down.

Scott Paul, president of the Alliance for American Manufacturing, noted that the USA manufacturing sector has gained 166,000 jobs in the past six months. Factories remained a bright spot, adding 24,000 workers to payrolls. The optics of a 3.9% unemployment rate (i.e., breaking through the 4.0% barrier) carry that perception an important step further.



[Breaking] Seoul dismisses possible reduction of US troops in S
Kim worked in agricultural development at an experimental farm run by the Pyongyang University of Science and Technology. Kim Dong-chul was arrested in October 2016 and sentenced to 10 years of hard labor on charges of spying.

Marouane Fellaini 'very important' for Manchester United - Victor Lindelof
Kanu, who joined Arsenal from Inter Milan in 1999 made 119 league appearances for the club and hit the back of the net 37 times. City passed the 100-goal mark in the Premier League and within touching distance of a number of milestones.

Woods makes dream come true at Wells Fargo
Wells Fargo Championship Fantasy Sleeper ReportYou must be a Premium Member to view our exclusive fantasy golf picks. Niemann said he likes tree-lined courses , like the TPC San Antonio, where he finished sixth at the Texas Open.

Kentucky Derby: Can Justify beat the Curses?
Justify, trained by Bob Baffert, is the victor of the Santa Anita Derby and has won his three starts by a combined 19 lengths. The horse made the cover of Sports Illustrated and was photographed by United States fashion magazine Vogue.

Consequences for China after militarisation in pacific
It said the HQ-9B long-range, surface-to-air missiles could target aircraft, drones and cruise missiles within 160 nautical miles.

Putting woes leave Woods six behind first-round leader Peterson
If I make a couple putts, I'd be 2 or 3-under par, which is fine". I'm busy trying to prepare and practice myself and get ready. I played a little more golf than I was expecting to play.

Mass. gasoline prices at $2.75 average
He paid $75 for 24 gallons of diesel, which would have been more but the pump automatically cuts off at that amount, he said. For all of 2018, the agency expects that the national retail price for all grades of gasoline will average $2.76 a gallon.

Mark Zuckerberg takes the stage at Facebook F8
Zuckerberg said the dating features are coming soon, but did not elaborate. The founder of the network has told that will make to increase security .

Severe Weather Potential Increasing
Thunderstorm chances begin picking up Tuesday across the KVOE listening area, and so does the risk of stronger activity. Large hail and tornadoes will be the initial threat with a damaging wind and hail threat into the overnight period.

Prince William, Kate Middleton Celebrate 7th Wedding Anniversary With Sweet Throwback
By the evening, the Duke and Duchess of Cambridge appeared on the steps of the Lindo Wing with their still unnamed son. The birth has also brought some speculation that the Duke of York may remarry his former wife, Sarah, Duchess of York.