Legal Employment Ticks Up in April

Donald Trump

Donald Trump

- Scott Paul of the Alliance for American Manufacturing called the month's manufacturing jobs data "great", and said fears of jobs lost to tariffs haven't come true.

The unemployment rate fell from 4.1 percent - for the first time in six months - to 3.9 percent.

So while overall unemployment among American workers shrunk by 0.2 percentage points to 3.9 percent, Black folks looking for steady work stood at a staggering 6.6 percent.

"We've continued to add jobs routinely every month for so long, and the unemployment rate we have reached is awesome", said Catherine Barrera, chief economist of the online job site ZipRecruiter. As Alaska heads into its growing season, it may continue to be the "growth" sector for the state's economy. "At this pace, unemployment will soon be in the 'threes, ' which is rarified and risky territory, as the economy threatens to overheat", said Mark Zandi, chief economist of Moody's Analytics.

Employment gains for March and April were revised up by a combined 30,000. Only the 1990s expansion was longer. They were not counted as unemployed because they had not searched for work in the four weeks preceding the survey. That was during the middle of World War II, when millions of men were drafted to fight and their jobs were filled by women.

Critics say it's "the wrong way to get to 3.9 percent". The 3.9 percent unemployment rate is a clear sign that the job market has become even more competitive. The last time it was lower than that was 1969.

Firm at center of Facebook privacy scandal to close
Facebook also says it will continue to seek answers "to understand exactly what happened and make sure it doesn't happen again". In a statement, Cambridge Analytica said it would immediately cease operations and bankruptcy proceedings would soon begin.

Coming into this month, "wages showed a moderate 2.7 percent annual increase", NPR's John Ydstie reported.

In a report from CNBC, claims were numbered at 225,000 in the latest week polled, a less-then-expected number from economic analysts from the preceding week.

"Wages haven't been able to break out of the 2.5% to 2.8% range", Panday said. Among "prime-age" workers between the ages of 25 and 54, she said, there were more people leaving the labor force than finding jobs. "It means borrowing costs will be moving higher for typical consumers". The Fed hiked rates in March and has forecast at least two more increases for this year.

The report boosted the stock market: The Dow jumped nearly 300 points. That was also slightly below expectations.

Hiring gains in April were broad. Employment gains were broad-based across industries, with largest increases in business services, health care, education, construction and manufacturing. Employment in mining has risen by 86,000 since October 2016. The slowdown last month followed an increase in employment growth that managed to reach 313,000 new jobs.

"We are in a period of intense demand for executive talent", said Robert Nephew, founder and managing partner of search firm RM Nephew and Associates, which specializes in the technology, professional services and healthcare sectors.

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