United States payrolls rise 164000 while jobless rate falls to 3.9%

06 May, 2018, 00:06 | Author: Teresa Adams
  • 5 things to watch in the April jobs report

With a reported 3.9-percent unemployment rate, April became one of six months in almost 40 years when the figure fell below 4 percent.

Job growth amounted to a decent 164,000 last month, up from an upwardly revised 135,000 in March, the Labor Department said Friday. The unemployment rate fell to 3.9 percent, the lowest since 2000, from 4.1 percent, a point that President Donald Trump was quick to tweet. Alternative measures of wage growth have shown it growing at a slow and steady pace, and inflation has already in fact risen back to the Federal Reserve's 2 percent target.

With the unemployment rate falling to 3.9%, causing concern for employers about a labor shortage, companies may increasingly recruit workers who they have historically avoided. Consumers are also benefiting from higher after-tax income, which grew last month at the fastest pace in a year, aided by the tax cuts.

In a sign that employers are having a hard time finding qualified workers, average hourly earnings rose 2.6 percent from a year ago.

US Fed holds interest rates, hints at future hikes
When rates rise these metals tend to become less attractive to investors compared to interest-bearing assets. We think this further reinforces the case for rates not be hiked at next week's MPC meeting.

"Factory orders have climbed in seven of the past eight months, and equipment spending, as reported in the gross domestic product report, has been supportive of topline growth in each of the past six quarters", said Tim Quinlan, senior economist at Wells Fargo Securities.

"We've continued to add jobs routinely every month for so long, and the unemployment rate we have reached is incredible".

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. Yet wage growth, the key number for stock market investors on edge about more Fed rate hikes, surprised on the downside, coming in at 2.6%.

In April, the number of private sector jobs rose by 168,000, while the number of government jobs slid by 4,000. But until recently, they haven't gained much, which has puzzled many economists. (The record to beat: nine months.) The streak defied the expectations of economists, who said the nation's prolonged hiring blitz - an average of 202,000 new positions each month in 2018 - was bound to drive the figure down. They account for 20 percent of people out of work.

Pep Guardiola says Manchester City could spend '£1 billion' in summer
That's a situation that Pep Guardiola will soon be facing and he's revealed just how many players he will sign. The West Ham fans' joy was short-lived, however, as City upped the ante after the break.

Within services, the sub-sectors with the biggest bursts in employment in April were: "professional and business services", +54,000 jobs; "education and health services", +31,000; and "leisure and hospitality", +18,000.

The unemployment rate fell in April because the labor force shrank: 236,000 Americans who were either working or looking for work dropped out of the job market. The unemployment rate for high-school dropouts rose slightly, to 5.8 percent.

The report indicates another month of solid job gains for an economy that has been expanding for nearly nine years.

All this said, the 0.2 percent decline in America's unemployment rate between March and April isn't unambiguously good news.

Facebook and Instagram Stories open to sharing from other apps
In addition, Instagram said it's redesigning the Explore section of the app, which will roll out over the next few weeks. The trend seems to be holding up nicely, as Instagram announced today that it is testing out a new video chat feature.



Tories retain control of Daventry District Council
They do not affect seats in parliament, where May has only a slim working majority thanks to a deal with a smaller party. LABOUR have increased their majority on Bradford Council by gaining four seats, in Shipley, Bolton & Undercliffe.

Here's How Tiger Woods Shot Today
The greens aren't quite as fast as I remember but they are more hard . "What I was feeling and sensing just didn't match up". If I make a couple putts, I'd be 2 or 3-under par, which is fine". "If I don't make it, I'm not playing golf anymore".

Golfer Justin Thomas helps couple get engaged at Wells Fargo Championship
Luke List ($7,400): He has been on of the best players on Tour this season, now ranking 11th in FedEx cup points. The views expressed in his articles are the author's alone and do not necessarily reflect the views of FanDuel.

7 mil. die yearly due to polluted air
In some regions, sand and desert dust, waste burning and deforestation are additional sources of air pollution . The report also claimed that 9 out of 10 people breathe air filled with pollutants.

World Press Freedom Day being observed today
However, former Senate chairman said there was also a great responsibility on the press to report with accuracy and integrity. It also underlines the role that media play as champions of accountability and the rule of law.

Angels phenom's pitching start Tuesday in jeopardy
Scioscia added the team would not place Ohtani on the disabled list. "Right now, we're not considering the DL". Ohtani (ankle) may throw a bullpen session Monday, Jeff Fletcher of The Orange County Register reports.

Danish man convicted under Malaysia's anti-fake news law for YouTube video
I did not know what the law is here. "I seriously apologise to everybody in Malaysia , not just in the Malaysian police", he said. The maximum punishment for spreading fake news is 500,000 Malaysian ringgit ($128,000) and 10 years in jail.

Snap CEO Evan Spiegel Stands By Redesign Despite Rocky Q1 Results
And after months of standing by the changes, the company last month was forced to backtrack, promising to redesign the redesign. Analysts had been expecting Snap to post revenue of about $244 million, but it generated just $230.7 million for the quarter.

Vice president's doctor complained about Ronny Jackson last fall
He's a great, great guy. and he started studying and then he started getting hit with vicious rumors — vicious. Trump , as he is wont to do when he has blundered, lashed out after the Jackson nomination imploded.

Taiwan dumped by Dominican Republic amid pressure from China
Beijing announced on Tuesday morning that it would exchange ambassadors with the Dominican Republic "as soon as practicable". Dominican Republic's Chancellor Miguel Vargas (L) and China's Vice President Wang Qishan in Beijing, China, May 1, 2018.