U.S. Unemployment Rate Drops Below 4% for First Time Since 2000


On Friday, the U.S. Bureau of Labor Statistics released a new Employment Situation Summary which shows some good news for the economy. According to the report, the national unemployment rate has fallen below 4% for the first time since 2000, that is, when Bill Clinton was president. “The fall in joblessness mark[s] yet another milestone in the nation’s long recovery from the 2007-2009 recession, which sent unemployment soaring to 10% in October 2009,” writes The Wall Street Journal. The breaking of this largely symbolic barrier is mostly due to a negative reason however: The labor force continued to lessen for the second month in a row. The annual report also showed that job growth for the month of April was less than expected with 164,000 additions by American employers. Wages also experienced modest growth at 2.6 percent from the previous year. Still, the U.S. economy remains on a roll having expanded for nine years straight. So, go out and get yourself a job or two or create your own job thereby putting yourself and others to work and be blessed!

– Dante Spellman

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