The Wall Street Journal posted an article today about the latest unemployment numbers. There is lots of good news.
The article reports:
The U.S. labor market was firing on all cylinders in May: the unemployment rate fell to an 18-year low, employers added jobs at a faster pace and wages modestly improved.
The unemployment rate ticked down to a seasonally adjusted 3.8%, matching April 2000 as the lowest reading since 1969, the Labor Department said Friday. Nonfarm payrolls rose a seasonally adjusted 223,000 in May, a jump from gains from March and April. Average hourly earnings ticked up to a 2.7% from a year earlier—and raises were even stronger for nonmanagers.
According to the Bureau of Labor Statistics the workforce participation rate is at 62.7. That number has fluctuated very little since January 2016. It should increase as the economy further improves.
The article further reports:
A broad measure of unemployment and underemployment that includes Americans stuck in part-time jobs or too discouraged to look for work fell to 7.6% from 7.8% the prior month. That rate, known as the U-6, remains somewhat elevated compared with the last time unemployment was similarly low. In April 2000, the broader measure was 6.9%.
Like him or hate him, Donald Trump understands what was needed to grow the American economy. I am grateful that he is helping all of us to prosper.
The article also reports:
The unemployment rate for women, 3.6% last month, was the lowest since 1953, when far smaller share of women sought jobs. The jobless rates for blacks, Latinos and those without high-school diplomas are trending near record lows.
It is amazing what has happened to the economy in the last eighteen months. I suspect that not everyone is cheering.