The unemployment rate is down

The unemployment rate is down

These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or because they were unable to find full-time jobs.

The simple story, then, is that the economy is adding somewhere between 150,000 and 200,000 jobs a month, just enough people are entering the workforce to offset all the baby boomers' retirements, and wage growth is stuck at a level that suggests the recovery still has a ways to go.

Economists say it is too soon to tell how employers may change their hiring or expansion plans in response to the tariffs on Chinese goods, or to Beijing's retaliation.

Orders for nondefense capital goods minus aircraft fell a revised 0.4% during March, more than the originally reported 0.1% drop. There are more than 6 million unfilled job openings in the United States, near a record. Rather than adding workers, the American labor force shed 236,000 people between March and April.

The unemployment rate fell to 3.9 percent, the lowest since December 2000. The fact that America's inflation rate is still lower than the Federal Reserve's target - even as unemployment dips below 4 percent, and the annual federal budget deficit climbs to over $800 billion - challenges the core assumptions of many a right-leaning economist.

CBN: Nigeria's Manufacturing PMI rises to 56.9 in April
Part of the increase in purchase prices was passed on to clients in the form of higher output charges in April. The distance away from 50 indicates how quickly activity levels are expanding or contracting.

Fed officials are closely monitoring the results to gauge the health of the USA economy and determine whether an interest rate hike is imminent.

President Trump is aiming to get the economy at least growing at a consistent three percent. The overall unemployment rate inched down to 3.9%, following six months at 4.1%. The last time it was lower than that was 1969. Economists were expecting 190,000. Yet the decline owed to a shrinking labor force and fewer people saying they were unemployed instead of an increase in how many people found work. "It means borrowing costs will be moving higher for typical consumers".

Market reaction: The Dow Jones Industrial Average DJIA, +1.39% and Standard & Poor's SPX, +1.28% surged in Friday trades, with the Dow up more than 350 points. The yield on the 10-year US Treasury note, which has been climbing as expectations of further rate hikes increase, fell slightly to 2.92 percent after the jobs report came out. The sectors gaining jobs in April tended to be in the higher-paying sectors that support the office real estate market and home sales.

Private service-providing industries gained 119,000 jobs, led by professional and business services and education and health care, adding 54,000 and 31,000, respectively. Employment in mining has risen by 86,000 since October 2016.

In the past three months the USA has added an average of roughly 208,000 jobs.

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