The unemployment rate in America has dropped to 3.9% despite a slow down in job growth. This marks the first time since 2000 that the country has had an unemployment rate less than 4%.
One would think that everyone would be celebrating this joyous economic news, but Reuters found plenty of ways to try and mitigate the impact of such a historically low rate.
U.S. job growth increased less than expected in April and the unemployment rate dropped to near a 17-1/2-year low of 3.9 percent as some jobless Americans left the labor force.
The Labor Department’s closely watched employment report on Friday also showed wages barely rose last month, which could ease concerns that inflation pressures are rapidly building up, likely keeping the Federal Reserve on a gradual path of monetary policy tightening.
Nonfarm payrolls increased by 164,000 jobs last month, the Labor Department said on Friday. Data for March was revised up to show payrolls rising by 135,000 jobs instead of the previously reported 103,000.
That was still the fewest amount of jobs created in six months and followed an outsized gain of 324,000 in February.
While cold weather in March and April probably held back job growth, hiring is moderating as the labor market hits full employment. There has been an increase in reports of employers, especially in the construction and manufacturing sectors, struggling to find qualified workers.
The entire article is worth reading just for the sheer amount of butthurt contained therein.
We’re swiftly approaching a job market in which a skilled worker is able to pick and choose exactly which job he wants at which company. America is approaching full employment and jobless rates not seen in decades. All the Left can do, however, is complain about the booming Trump economy.
I wonder how long it will be before the Mainstream Media begins decrying a low unemployment rate as racist? I’m fully expecting the Left to start pushing stories about how full employment hurts the black community. CNN is going to have to get to work if they want to push those puff pieces about the terrible impact of low unemployment rates on migrant (re illegal) workers before the 2018 midterms.
I can’t wait to see all those Democrats facing re-election argue that low unemployment is a Very Bad Thing with a straight face. I’m sure it’ll help get that Blue Wave going.