By Nick Baum
SATURDAY – 5/5/18
A new report by the US Department of Labor Statistics has concluded that the unemployment rate has dropped from 4.1% in March to 3.9% in April. The last time the unemployment rate has dropped below 4%, was in the later months of 2000.
The statistic has come after the stock market started to regain its footing yesterday, finishing above when it started, and is currently around 24,300. However, many don’t feel the same hope about the economy, as the last time the unemployment rate was below 4%, it came shortly before a recession.
Wage growth has also been slow this April, with barely any progress on salaries. Enthusiasm for jobs has also remained low, despite the even lower unemployment rate. However, we have yet to determine the future of the economy.
Sources: US Labor Department, Wall Street Journal