US Unemployment Rate Falls to 3.9 Percent—Lowest Since 2000

(From NBC News)

The nation’s unemployment rate fell to 3.9 percent for the first time since 2000, with the economy gaining 164,000 jobs in April, according to data released Friday morning by the Department of Labor.

But the number of jobs added was lower than expectations set by economists, who were anticipating the monthly report from the Bureau of Labor Statistics would show 192,000 jobs had been added.

April’s job number follows an unusually slow March, when job gains lingered at 103,000 due to unseasonable weather; and a robust February, when 326,000 people found work. The economy needs to create about 120,000 jobs each month in order to absorb new workers and balance out the unemployment rate.

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