Unemployment is below 4% for the first time since 2000

LIVE COVERAGE: The US jobs report

Higher prices along with no wage growth is putting an increasing strain on wallets.

In April, the number of private sector jobs rose by 168,000, while the number of government jobs slid by 4,000. Unemployment for blacks fell to a fresh record-low of 6.6%, down three-10ths of a point. It was the second straight monthly drop in the participation rate. The Australian dollar increased to $0.7581 from $0.7552, Xinua reported.

President Trump celebrated the report.

The continuing decline in unemployment amid tepid wage pressures serves as a stark signal to labor economists, and Fed policy makers, that the neutral level of the unemployment rate, or NAIRU, is considerably lower than in the past several economic cycles-and furthermore, is likely lower than the Fed estimated as of the March Summary of Economic Projections (4.5 percent).

"Overall, it's a good report", said Michael Feroli, chief US economist at JPMorgan Chase & Co. 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. "Why this tightness is not feeding into greater average hourly earnings growth remains a bit of a puzzle". That's not what's supposed to happen when unemployment gets as low as it can. which tells us that unemployment must not have bottomed out yet. Wages dropped 4.7 percent. Since President Trump's election, almost 3.2 million American jobs have been created. "Slack is getting absorbed" but "the process of that translating into faster wages has been slow". "The outlook for rates is heavily dependent on expectations for inflation, which in term are influenced by wages".

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The U.S. Labor Department cited better-than-average unemployment claims in ME and Colorado as a mark of the strong numbers.

A broader measure of unemployment, which includes people who want to work but have given up searching and those working part-time because they can not find full-time employment, dropped to 7.8 percent last month, the lowest level since July 2001, from 8.0 percent in March.

In Alaska, March was the 29th consecutive month of job losses recorded by the State Department of Labor and Workforce Development. Employers added 164,000 jobs in April, lower than what economists had forecast of 190,000 new positions. With this news, the economy has averaged 200,000 new jobs per month in 2018, and the monthly average this year is higher than the last two years.

Payrolls for temporary help, seen as a harbinger of future permanent hiring, rose by 10,300 after falling by 2,100 in March. "3.9% Unemployment. 4% is Broken!" he said on Twitter.

Mining employment increased by 8,000 jobs during the month, but employment was little changed in construction, retail and wholesale trade, transportation and warehousing, financial activities and government, the BLS said.

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