Booming: Unemployment Drops to Lowest Level Since 2000

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Posted: May 04, 2018 9:00 AM
Booming: Unemployment Drops to Lowest Level Since 2000

The Bureau of Labor Statistics released new unemployment numbers on Friday morning and although the added jobs number was below the expected 188,000, the overall rate has fallen to 3.9 percent. This is the lowest number since 2000.

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The increase in new jobs last month was spearheaded by professional businesses. They added 54,000 workers.

Hiring also rose smartly among health-care providers and manufacturers, each of which added 24,000 jobs. Construction firms also increased payrolls by 17,000

Wholesaler and government were the only sectors to shed jobs.

Employment gains for March and April were revised up by a combined 30,000. The government said 135,000 new jobs were created in March instead of 103,000. February’s increase was trimmed to 324,000 from 326,000. The increase in new jobs last month was spearheaded by professional businesses. They added 54,000 workers.

Hiring also rose smartly among health-care providers and manufacturers, each of which added 24,000 jobs. Construction firms also increased payrolls by 17,000

Wholesaler and government were the only sectors to shed jobs.

Employment gains for March and April were revised up by a combined 30,000. The government said 135,000 new jobs were created in March instead of 103,000. February’s increase was trimmed to 324,000 from 326,000.

The White House attributes a decrease in unemployment numbers to President Trump's economic agenda and prioritization of deregulation.