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Category: Economy

April 2018 Jobs Report Shows Promising Market for Jobseekers

Filed under: Economy, Job Market, Job Statistics

The U.S. Department of Labor released statistics about the current job market on May 4th. The results pointed to a more promising situation for jobseekers than in recent months or years. Some highlights are as follows:

 

UNEMPLOYMENT RATE

3.9%

The jobless rate in the U.S. fell to 3.9% in April, touching the lowest mark since December 2000. The rate had been stuck at 4.1% the previous six months. The economy looks different today than it did in the last days of the tech boom. In 2018, interest rates are lower, economic growth is more moderate and the stock market—while preforming well—hasn’t had nearly the same run-up it had in the 1990s

 

JOBS

164,000

U.S. employers added 164,000 jobs to nonfarm payrolls in April. That was slightly weaker than the 195,000 economists surveyed by The Wall Street Journal had expected. But revised figures showed employers added a net 30,000 more jobs than previously estimated in February and March. The monthly pace of hiring this year is 200,000. That’s a healthy clip and stronger than 2017’s average of 182,000 per month.

 

LABOR-FORCE PARTICIPATION

62.8%

The labor-force participation rate fell for the second straight month to 62.8% in April. The rate is near the lowest level recorded since the 1970s, when women were entering the workforce in larger numbers. Friday’s data showed 236,000 Americans exited the labor force in April. That left employers with a smaller pool of available workers and helps explain why the unemployment rate fell

 

You can read the rest of the article here on the Wall Street Journal. 

December Employment Gain Caps Best Year for U.S. Since 1999; Wage Gains Lag

Filed under: Big Data, Economy, Job Statistics

A rise in employment and a falling jobless rate in December capped the best year for the labor market since 1999 and reinforced the U.S. role as the global economy’s standout performer.

The addition of 252,000 jobs followed a 353,000 rise the prior month that was more than previously estimated, a Labor Department report showed today in Washington. The jobless rate dropped to the lowest level since June 2008. The report wasn’t all good news as earnings unexpectedly declined from a month earlier.

An additional 2.95 million Americans found work in 2014, the most in 15 years and a sign companies are optimistic U.S. demand will persist even as overseas markets struggle. The combination of job growth and cheaper gasoline will probably help stretch workers’ paychecks and sustain consumer spending.

Click here to read the rest on Bloomberg >>