The unemployment rate has fallen below 4 percent for the first time in 18 years.
The Department of Labor reported on Friday the unemployment rate is currently 3.9 percent, a figure last seen at the end of the Bill Clinton presidency in 2000.
Payrolls rose by 164,000 jobs in April, while average hourly earnings increased 0.1 percent from the previous month. Wages are up 2.6 percent from the same month last year, according to Bloomberg.
The unemployment rate for African-Americans also hit a new all-time low of 6.6 percent.
Meanwhile the rate for women dropped to 3.5 percent. For Hispanics, it held steady at 4.8 percent, tying a record low.
“Professional and business services created the most new jobs, with 54,000, while manufacturing and health care added 24,000 apiece,” CNBC reported.
“Mining saw 8,000 new jobs, bringing to 86,000 the total unemployment growth since October 2016 for a sector that President Donald Trump promised to target when he campaigned,” the news outlet added. – READ MORE
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