Unemployment rate falls in April

Donald Trump

"At this pace, unemployment will soon be in the 'threes, ' which is rarified and risky territory, as the economy threatens to overheat", said Mark Zandi, chief economist of Moody's Analytics. "There is no need to speed up the path of interest rates because inflation isn't heating up in a worrisome manner".

Employers added about 164,000 jobs in April, up from last month's revised number of 135,000 jobs. February's increase was trimmed to 324,000 from 326,000.

Although many employers now say it's hard to find qualified workers, they have yet to significantly bump up pay in most industries.

The unemployment rate in the USA fell to 3.9%, its lowest level since the end of 2000.

Unemployment, which analysts had tipped to fall four per cent, broke a six-month streak of the unemployment rate sitting at 4.1 per cent.

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The North Korean defectors do not trust Kim's intentions and want to keep fighting for the rights of their former compatriots. President Donald Trump has not asked the Pentagon for options to reduce U.S. forces based in South Korea, U.S.

Manufacturers added 24,000 workers in April.

In April, average hourly earnings for all employees on private nonfarm payrolls rose by 4 cents to $26.84. Meanwhile, Wall Street has bumped up odds for a fourth rate hike this year to about 40%. Once you control for that, wage growth is right about where you would expect it to be.

Today's report is very encouraging.

President Trump celebrated the report. The combination of low and falling unemployment with accelerating wage gains would fit perfectly with the Phillips curve theory that has long guided Federal Reserve policy.

Democrats, however, reiterated their criticism of the tax cuts, saying more than $390 billion in share buybacks had been announced since the passage of the tax bill. Strong job growth in April shows that economic confidence remains high in the wake of historic, pro-growth tax reform. Since then, though, it's only 2 percent.

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Economists interpreted symmetric to mean policymakers would not be too concerned with inflation overshooting the target.

Claims did rise 2,000 from last week as the final week in April only saw 209,000 unemployment aid claims - the lowest recorded since December 1969. "The larger-than-expected reported drop in the unemployment rate...provides additional evidence of tightening labor markets".

Despite the numbers, last month's growth paled in comparison with the average monthly gain of 191,000 jobs over the past year.

The number of unemployed people, at 6.3 million, also dipped over the month.

"Despite rising trade tensions, more volatile financial markets, and poor weather, businesses are adding a robust more than 200,000 jobs per month". There was a modest gain in leisure and hospitality employment while wholesale traders laid off workers. "3.9% Unemployment. 4% is Broken!" he said on Twitter. "But my message to clients now is the more we get that kind of report going forward, the more I'm going to think we're closer to the end of the cycle".

Oil prices fall on rising USA crude inventories, record production
China and India alone imported around 1.4 million barrels a day of Iranian oil in April, according to Shana. South Korea and Japan are Iran's other key customers in Asia where 60 percent of Iranian oil is exported.

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