MAGA: U.S. Jobless Rate Falls Below 4% For First Time Since Late 2000

[polychronopolous]

U.S. Jobless Rate Falls Below 4% For First Time Since Late 2000



By Josh Mitchell and  Eric Morath
Updated May 4, 2018 9:26 a.m. ET
57 COMMENTS
WASHINGTON—The U.S. economy steadily created jobs in April while the jobless rate fell to the lowest level since late 2000, suggesting available workers are becoming scarcer in a tightening labor market.

Employers added 164,000 jobs in April, a pickup from March and more than enough to keep up with population growth, the Labor Department said Friday. The jobless rate, calculated from a separate survey of households, fell to 3.9% from 4.1% a month earlier, hitting the lowest rate since December 2000, toward the end of the tech boom.

But in an ongoing mystery, workers’ wages continued to grow sluggishly despite the historically low unemployment rate. Wages grew 4 cents over the month and 2.6% over the past year, strong enough to keep paychecks slightly ahead of cost-of-living increases.

Economists surveyed by The Wall Street Journal had expected 175,000 new jobs in April and the jobless rate to fall to 4%.

Employers have added jobs every month since October 2010—a 91-month stretch that ranks as the longest period of unimpeded job growth on record.

But Friday’s report the expansion is running into a new obstacle: Too few available workers.

Employers have stepped up hiring this spring—they’ve added an average 208,000 jobs over the past three months, well above last year’s monthly average of 182,000.

Signs of a tightening labor market may push Federal Reserve policy makers to consider raising short-term interest rates slightly more aggressively this year than they have signaled.

Workers’ wages continued to grow sluggishly in April despite the low unemployment rate. PHOTO: DANIEL ACKER/BLOOMBERG NEWS
But the pool of labor they have to choose is shrinking. The civilian labor force—comprised of Americans with jobs or actively looking for work—fell by 236,000 last month. The participation rate—or the share of the population in the labor force—slipped a tenth of a percentage point to 62.8%.

Employers in April appeared to be hiring those actively looking for jobs, instead of Americans who had fallen out of the labor force.

Despite low unemployment, employers to continue to have leverage in pay negotiations, with wage growth failing to break out of modest growth. Hourly pay for private-sector workers rose, on average, 0.15% from a month earlier to $26.84 in April. That figure was 2.6% above the year ago level, a 12-month gain in line with the trend of recent years.

A separate measure of unemployment shows the labor market may not be as strong as the main jobless rate implies. This measure—which takes into account part-time workers who would prefer full-time jobs, and workers too discouraged to look for work—fell to 7.8% in April from 8% in March. In December 2000, the broader measure was 6.9%.

https://www.wsj.com/articles/u-s-adds-164-000-jobs-in-april-unemployment-falls-to-3-9-1525437126

[Board_SHERIF]

Not bad for a Racist Nazi that is paid $1.99 per month from Putin.

[Irongrip400]

Hourly rates will start going up. I'm having trouble finding people and for my top guys am paying $3-$7 more an hour for what I was three years ago. The job pricing hasn't  caught up with that yet, but I assume (and hope) it soon does.

[Straw Man]

Only 164k in jobs and sluggish wage growth

I thought those tax cuts were supposed to ignite both job growth and wages

When is that going to start happening?

[polychronopolous]

Only 164k in jobs and sluggish wage growth

I thought those tax cuts were supposed to ignite both job growth and wages

When is that going to start happening?

Read the post directly above you.

Maybe you might learn something.

[Las Vegas]

Hourly rates will start going up. I'm having trouble finding people and for my top guys am paying $3-$7 more an hour for what I was three years ago. The job pricing hasn't  caught up with that yet, but I assume (and hope) it soon does.

Why do you suppose that is?

[Mobil]

Only 164k in jobs and sluggish wage growth

I thought those tax cuts were supposed to ignite both job growth and wages

When is that going to start happening?

ill be more then happy to take your tax cuts. if your so upset about it...we can do paypal or cash deposit

[polychronopolous]

Democrats Lose Ground With Millennials - New Poll Reveals

[Straw Man]

ill be more then happy to take your tax cuts. if your so upset about it...we can do paypal or cash deposit

I'm sure you could use the money

don't worry those tax cuts will soon lead to a 25 cent an hour raise at your job at Burger King

Just be patient

give it a year or two

[tonymctones]

I love the whining here by straw, first it was that the tax cuts only benefit the rich and when that was disproven its come to “well they’re working and all but hey they should be working faster”

[Irongrip400]

Why do you suppose that is?

I think a few reasons. People are scared to get too greedy too quick like in 2004-2007 and cause another slowdown. Also, some of my projects are multiple year contracts or a job that was bid and started two or three years ago. You're not eligible for price increases due to inflation or a growing labor market. There are some allowances for petroleum based products and steel, but other than that, you are locked into your pricing. I suspect it will start catching up soon. Some of these major infrastructure projects need to hit the streets so to speak. The government has already been given a major boost with this last budget that was signed off on. I think we are good until at least 2020.

[Mobil]

I'm sure you could use the money

don't worry those tax cuts will soon lead to a 25 cent an hour raise at your job at Burger King

Just be patient

give it a year or two

I'm an Industrial mechanic... you can have that 25cents..i like my extra $60 bucks a week added to my paycheck...give me yours if you dont like it.

[Coach is Back!]

I love the whining here by straw, first it was that the tax cuts only benefit the rich and when that was disproven its come to “well they’re working and all but hey they should be working faster”

Add this to Trumps 51% approval rating, StrawNazi must be doubling up on the BP meds..lmao.

In one day..

A black judge (kinda matters since Trump is a supposed "racist" haha) bitch slapped Mueller

UE hit 3.9%

Trump approval at 51% with 1/2 a cabinet

[Straw Man]

I love the whining here by straw, first it was that the tax cuts only benefit the rich and when that was disproven its come to “well they’re working and all but hey they should be working faster”

"only" benefit the rich or MOSTLY benefit the rich and of course corporations

We saw CEO openly laugh at Gary Cohn when he asked for a show of hands at how many of them would create jobs with their tax windfall

What the corporations have actually done is exactly what we said they would do.  They are buying back their stock

We could have achieved 164k job growth and no wage growth without any tax cuts

I wonder if the US will get the same result from tax cuts that Kansas got (remember when Brownback promised to prove once and for all that tax cuts stimulate the economy and then had to watch his state tax revenue plummet)

Take a look at the first quarter borrowing on US Treasuries

[Las Vegas]

"only" benefit the rich or MOSTLY benefit the rich and of course corporations

We saw CEO openly laugh at Gary Cohn when he asked for a show of hands at how many of them would create jobs with their tax windfall

What the corporations have actually done is exactly what we said they would do.  They are buying back their stock

We could have achieved 164k job growth and no wage growth without any tax cuts

I wonder if the US will get the same result from tax cuts that Kansas got (remember when Brownback promised to prove once and for all that tax cuts stimulate the economy and then had to watch his state tax revenue plummet)

Take a look at the first quarter borrowing on US Treasuries

"only" benefit the rich or MOSTLY benefit the rich and of course corporations

We saw CEO openly laugh at Gary Cohn when he asked for a show of hands at how many of them would create jobs with their tax windfall

What the corporations have actually done is exactly what we said they would do.  They are buying back their stock

We could have achieved 164k job growth and no wage growth without any tax cuts

I wonder if the US will get the same result from tax cuts that Kansas got (remember when Brownback promised to prove once and for all that tax cuts stimulate the economy and then had to watch his state tax revenue plummet)

Take a look at the first quarter borrowing on US Treasuries

What!?  The bastards don't run out and create jobs when they score extra money (on top of the extra money they've taken from the other extra money)?

Lol, no. You're right.  It doesn't work like that.

[mazrim]

I'm sure you could use the money

don't worry those tax cuts will soon lead to a 25 cent an hour raise at your job at Burger King

Just be patient

give it a year or two

Nice deflection.

Send it over to him if you don't want it.

[Straw Man]

Nice deflection.

Send it over to him if you don't want it.

thanks

I suspect you could probably use a handout from me too

you both sound like a couple of whining socialists

what a surprise

[Mobil]

thanks

I suspect you could probably use a handout from me too

you both sound like a couple of whining socialists

what a surprise

lol... a liberal crying about "handouts"... you made my day sir, thanks.

[mazrim]

thanks

I suspect you could probably use a handout from me too

you both sound like a couple of whining socialists

what a surprise

It actually sounds like you may be having trouble saying,"Thanks, President Trump."

If I am mistaken and you simply cannot stand getting money back then I will gladly accept your tax cut as well. I'm sure Mobil wouldn't mind splitting it.

I'm guessing you probably just spouted off again without thinking, though.

[SOMEPARTS]

Only 164k in jobs and sluggish wage growth

I thought those tax cuts were supposed to ignite both job growth and wages

When is that going to start happening?

The selective economist is here.