For the first time since 2000, the US unemployment rate fell below 4%

The unemployment rate in April fell below 4%, for the first time since 2000, and is 3,9%, writes CNN Money with reference to data from the US Department of Labor.

Фото: Depositphotos

Employers have created 164 thousands of jobs, slightly lower than economists' expectations, but better than in March. The number of jobs grew every month for seven and a half years, which is the longest growth in US history.

The business will add jobs if it finds the necessary labor. In the US, there are more than 6 million open positions - this is a record figure. The number of people who quit and change jobs is also high.

In April, the unemployment rate fell because the labor force fell. 236 thousands of Americans left the labor market.

“We would like to see more people getting jobs rather than leaving the country,” said a senior economist S&P Global Ratings Satyam Pandey.

Economists believe that unemployment will decline, as companies offer attractive wages and benefits, motivating Americans to seek work.

“There are still hundreds of thousands of people who will enter the labor market. If that happens, we could hit 3,5%,” said Robert Frick, chief economist at Navy Federal Credit Union.

In 2000, the unemployment rate was 3,8% due to the effects of a technological boom. A lower figure was recorded only in 1969 year.

It is noted that the average hourly wages in April rose by 4 cents or 2,6% compared with the previous year.

Pandey expects wages to grow as the labor market develops and companies will seek to attract new employees.

Americans need higher wages to offset consumer spending. Inflation is 2%, gas costs about $ 3 per gallon. This could result in the Federal Reserve raising interest rates earlier than planned.

Economists say the business segment has added 54 thousands of locations, healthcare has 24 thousands of locations, production has 24 thousands of locations, mining, oil and gas has 8 thousands of locations, mining has 86 thousands of locations.

“Unemployment is 3,9%! 4% passed!” President Donald Trump tweeted.

Over the 15 months of the Trump administration, the economy has added 2,7 million jobs. Over the same period, the administration of the previous US President Barack Obama’s economy has added 3,1 million jobs.

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