Unemployment in the USA dives below 4% for the first time since 2000

Unemployment in the USA dives below 4% for the first time since 2000

In April 2018 the overall number of jobs in the American economy tacked on by 164 thousand. That’s what the Ministry of Labor of the country informed.

The leap for the previous month was updated upwards from 103 thousand to about 135 thousand jobs.

At the same time, unemployment headed south below 4% for the first time since 2000. It accounted for 3.9%. Before this, it kept to 4.1% for up to six months.

Market experts on average had hoped for a leap in the number of jobs in April by approximately 193 thousand as well as a slump in unemployment to 4%.

Unemployment in the United Stated is already below the mark that the Federal Reserve considers to be a long-term norm. So, in the future we can expect upward pressure on wages as well as inflation in the United States.

In America, April’s average hourly wage inched up by 0.1% versus the previous month and also by 2.6% in annual terms - it appears to be less than many experts and investors hoped for.

The previous month the share of the population's participation in the labor force inched down to 62.8% versus 62.9% in March. Market experts had hoped for an ascend to 63%.

As for the average duration of the working week, it was still the same, accounting for 34.5 hours.

In the American manufacturing sector, in April the overall number of jobs increased by 24 thousand, which is better than anticipated. At the same time, retail enterprises ramped up the number of employees by just 2 thousand people, while the construction industry companies increased it by 17 thousand.

In the private sector of the United States the number of jobs headed north by about 168 thousand, while the service sector gained by 119 thousand.

Similar

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera