Home » Money

U.S. unemployment rate falls to 3.9 percent - lowest since 2000

06 May, 2018, 05:15 | Author: Samuel Sharp
  • Unemployment rate falls in April

"This suggests that, in spite of the low unemployment rate, workers are still not confident about their labor market prospects", writes Baker.

The monthly jobs reports have shown pay raises inching up. (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. "At this pace, unemployment will soon be in the 'threes, ' which is rarified and risky territory, as the economy threatens to overheat", said Mark Zandi, chief economist of Moody's Analytics.

Large businesses of 500 or more employees gained 67,000 jobs during the month, ADP said, while small businesses of one to 49 employees gained 47,000. Only the 1990s expansion was longer. "In some industries, almost half of the firms have unfilled openings".

"Here's a great stat - since January 2017, the number of people forced to use food stamps is down 1.9 million".

The unemployment rate fell in April because the labor force shrank: 236,000 Americans who were either working or looking for work dropped out of the job market.

Barrera adds that it is also younger people who are new to the workforce that are seeing more opportunities as well.


President Trump is aiming to get the economy at least growing at a consistent three percent. Fiscal stimulus coming from the December tax cuts and increasing government spending is likely a major factor behind the strength. Wells Fargo predicted a 0.2% increase in April's wages, which would keep the annual rate at about 2.7%.

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.

The Fed said that the USA labor market continues to strengthen, and today's jobs report is more evidence of that.

The Federal Reserve this week signaled it would not overreact to an uptick in inflation but could face mounting pressure to act in the coming year, a prospect that has left markets on edge since February. Stock futures were little changed after the report came out. Only a short time ago, in 2009, we saw the jobless rate hit double digits.

Orders for nondefense capital goods minus aircraft fell a revised 0.4% during March, more than the originally reported 0.1% drop.

Hiring also rose smartly among health-care providers and manufacturers, each of which added 24,000 jobs.

Recommended:

  • Betts homers 3 times as BoSox beat Royals

    Betts homers 3 times as BoSox beat Royals

    Outfielder Mookie Betts hit three home runs Wednesday to become the only Red Sox player with four career three-homer games. Duffy tied a career high by allowing three homers in a start for the eighth time and second time this season.
    This simple request will make Siri cuss at you

    This simple request will make Siri cuss at you

    Ironically, if you curse at Siri , she'll call you out on it and make you feel awful about yourself. A month ago it was reported that Apple is hiring more engineers to work on improving its Siri .
    Tree French President Gave to Trump Disappears from White House Lawn

    Tree French President Gave to Trump Disappears from White House Lawn

    Days later, a Reuters photographer took a photo that showed just a yellow patch of grass where it was planted on the South Lawn. The sapling originates from northern France World War I near a place where thousands of US troops died battling German forces.
  • Hawaii on high alert after day of earthquakes, more lava fissures

    Hawaii on high alert after day of earthquakes, more lava fissures

    About 14,000 customers of Hawaii Electric Light lost power immediately after Friday's 6.9 magnitude quake. Exposure to the gas can cause irritation or burns, sore throats, runny noses, burning eyes and coughing.
    Radio station bans Kanye West's music following controversial slavery comments

    Radio station bans Kanye West's music following controversial slavery comments

    Ellen DeGeneres had two questions for Kris Jenner when she dropped by her daytime talk show - and they both involved Kanye West . Kanye West doesn't listen to the opinions of mother-in-law Kris Jenner or wife Kim Kardashian , a new report claims.
    Indian cities top WHO list of most polluted in the world

    Indian cities top WHO list of most polluted in the world

    New data released by World Health Organization shows that nine out of 10 people breathe air containing high levels of pollutants. As per the ambient air quality report released by the in 2017, Lucknow had "good quality air" just for 17 days.
  • NXP Semiconductors (NASDAQ:NXPI) Short Interest Update

    The company was initiated on Tuesday, December 6 by Bank of America. ( NYSE:BX ), 15 have Buy rating, 0 Sell and 4 Hold. The company's stock had a trading volume of 29,969,398 shares, compared to its average volume of 4,961,868.
    Donald Trump: Obstruction of Justice Charges 'Nonsense' in Russia Investigation

    Donald Trump: Obstruction of Justice Charges 'Nonsense' in Russia Investigation

    Yet when asked that same question by Congress at a public hearing previous year , he declined to provide that same reassurance. Comey said the country would be better off if "our leaders" tried to emulate them instead of "comparing them to Nazis".
    Saunas may cut stroke risk (ask the Finns)

    Saunas may cut stroke risk (ask the Finns)

    Sauna bathing frequency was categorized as one, two to three, and four to seven sessions per week. Results During a median follow-up of 14.9 years, 155 incident stroke events were recorded.
  • Rockies try to keep hits coming versus Cubs

    Rockies try to keep hits coming versus Cubs

    But their exit velocity was impressive when it came to being out of this one quickly in losing 11-2 to the Rockies on Wednesday. The Rockies have swatted the most home runs in the National League , but don't label this crew Blake Street Bombers II.
    Liverpool legend Steven Gerrard confirms talks with Rangers over becoming new manager

    Liverpool legend Steven Gerrard confirms talks with Rangers over becoming new manager

    Numerous former coaches and team-mates of Gerrard have had their say on the ex-England star taking up the role at Ibrox. He's not going to go there and be naive enough to think all of a sudden "I'm going to turn it around".

    Stormy Daniels sues Donald Trump for defamation over…

    There have been questions surrounding the legality of the payment considering various campaign finance laws. Neither Trump's lawyers nor the White House immediately responded to requests for comment.


Popular

Champions League and Europa League revenue
Jurgen Klopp insists his only focus is on Liverpool's upcoming "semi-final" in the Premier League against Chelsea . For that, of course it helps massively if you have this obvious sign: being in the Champions League final .

Que es Cinco de Mayo?
Other states including Missouri, South Dakota, and MS searched for "Taco Bell" as a way to celebrate the holiday. The analyst team at Cable TV.com did some research to see what each state was Googling the most on the holiday.

Rihanna Demotes Drake From Even The Friend Status And Ouch!
In an interview with The New York Times, he even said that he was her "pawn", but later retracted the statement. Rihanna winces slightly at the mention of the rapper's name before her eyes glaze over with cool indifference.

Four killed in Srinagar gunfight, clashes
Internet services have been suspended in Srinagar to prevent people from sharing information about the situation in Chattabal. The two men were abducted from their houses located in Gulshan Mohalla of the village in the intervening night of May 4-5.

Iowa lawmakers approve the most restrictive U.S. abortion bill
MS enacted a law earlier this year banning abortions after 15 weeks of pregnancy, but it's on hold after a court challenge. Reynolds signed the bill surrounded by children and Republican lawmakers, while protesters chanted outside her office.

Elon Musk goes on Twitter to defend his freaky earnings call behavior
I asked Musk how he thinks it will compare to the 2013 short squeeze that followed his 2012 warning to the shorts. Musk interrupted the analyst and dismissed his question, indicating that " boring " questions are "not cool".

Berkshire Hathaway bought additional 75 million Apple Shares in Q1 2018
Investors who do so may be totally missing the point, as Apple boasts a "wide, wide gap" against its peers, said Buffett, 87. Berkshire had $116 billion in cash at the end of past year , so has plenty of spare money to make big investments.

Alibaba quarterly revenue rises 61 pct
Maximum and minimum EPS estimate for the current quarter is projected at $10.78 and $7.11, respectively, according to 15 analysts. The Lomas Capital Management Llc holds 143,798 shares with $24.79 million value, down from 149,121 last quarter.

Trump hints of imminent news on Americans detained in North Korea
Kim Dong-chul, a pastor in his early 60s, was detained in 2015 on spying charges and sentenced to 10 years' hard labour in 2016 . Kim had made the comments during his summit with South Korean President Moon Jae-in on Friday at a border truce village.

Xiaomi files for largest Chinese tech IPO since 2014
Its 2017 revenue surged by 67.5% to 114.6 billion yuan ($18 billion), with overseas sales more than tripling to 32.1 billion yuan. That puts it in fourth spot globally behind Samsung, Apple and Huawei, both by market share and by actual shipment.