Unemployment rate dips further
The unemployment rate edged down to 3.9% in April, according to the Bureau of Labor Statistics. That’s the lowest rate since 2000.
Nonfarm payroll employment increased by 164,000 in April, compared to an average monthly gain of 191,000 over the past 12 months. The employment situation was relatively stable for major industries such as construction, wholesale trade and retail trade.
The unemployment rate stands at 3.9%, down from 4.1% in each of the prior six months. A year ago, the unemployment rate was 4.4%.
"The jobs gains are looking very good and are in line with the continuing growth of the economy,” NRF Chief Economist Jack Kleinhenz said. “Irregular weather patterns have put some noise into the data this year in terms of fluctuating monthly numbers, but the overall trends show the underlying strength of the economy. Tax reform and regulatory reform seen over the past few months are expected to continue to provide traction for the economy and further job growth.”
Also, the tally for job creation for February and March was adjusted upward – a total of 30,000 more jobs than previously reported in the prior two months.
Nonfarm payroll employment increased by 164,000 in April, compared to an average monthly gain of 191,000 over the past 12 months. The employment situation was relatively stable for major industries such as construction, wholesale trade and retail trade.
The unemployment rate stands at 3.9%, down from 4.1% in each of the prior six months. A year ago, the unemployment rate was 4.4%.
"The jobs gains are looking very good and are in line with the continuing growth of the economy,” NRF Chief Economist Jack Kleinhenz said. “Irregular weather patterns have put some noise into the data this year in terms of fluctuating monthly numbers, but the overall trends show the underlying strength of the economy. Tax reform and regulatory reform seen over the past few months are expected to continue to provide traction for the economy and further job growth.”
Also, the tally for job creation for February and March was adjusted upward – a total of 30,000 more jobs than previously reported in the prior two months.