The unemployment rate has fallen to a 16 year low.
In May, the American economy recorded an astounding 138,000 new jobs added pushing the unemployment rate down to an impressive 4.3%. According to the latest statistics from the Bureau of Labor this is the post recession low for the unemployment rate.
Real wage gains have been pretty stable, rising 0.2% over the April and 2.5% over the year prior to May.
Previous to this statistic the last two monthly job gains in the US has been revised down, with March coming down by 29,000 and April coming down by 37,000. Over the past three months, the payroll gains have averaged at 121,000.
Investors and speculators are keeping a keen eye on the underemployment rate, whch takes in to account the official unemployment rates, but also adds in those people who are currently working part time, but would prefer to be working full time. In may this number stood at 8.4%, down from 8.6% in April. This is the lowest reading since June 2007.
Trump’s chief economic advisor, Gary Cohan has said that in recent months the administration has been focused on bringing down the underemployment rate.
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