Please ensure Javascript is enabled for purposes of website accessibility
Unemployment Hits 49-Year Low as US Employers Step up Hiring
gvw_ap_news
By Associated Press
Published 6 years ago on
May 3, 2019

Share

WASHINGTON — U.S. employers added a robust 263,000 jobs in April, suggesting that businesses have shrugged off earlier concerns that the economy might slow this year and now anticipate strong customer demand.

The unemployment rate fell to a five-decade low of 3.6% from 3.8%, though that drop partly reflected an increase in the number of Americans who stopped looking for work. Average hourly pay rose 3.2% from 12 months earlier, a healthy increase though unchanged from the previous month.

The unemployment rate fell to a five-decade low of 3.6% from 3.8%, though that drop partly reflected an increase in the number of Americans who stopped looking for work. Average hourly pay rose 3.2% from 12 months earlier, a healthy increase though unchanged from the previous month.

Friday’s jobs report from the Labor Department showed that solid economic growth is still encouraging strong hiring nearly a decade into the economy’s recovery from the Great Recession. The economic expansion is set to become the longest in history in July.

Many businesses say they’re struggling to find workers, yet each month they seem to add a substantial number. Some have taken a range of steps to fill jobs, including training more entry-level workers, loosening educational requirements and raising pay sharply.

Years of steady hiring have sharply lowered unemployment for a range of population groups. The unemployment rate for women fell last month to 3.1%, the lowest point since 1953. The rate for Latinos dropped to 4.2%, a record low since 1973, when the government began tracking the data.

Sharp Improvement From the Start of the Year

For Asians, joblessness has matched a record low of 2.2%. And the unemployment rate for veterans of the Iraq and Afghan wars dropped to 1.7%, also a record low.

Most of last month’s job growth occurred in services, which includes both higher-paying jobs in information technology and lower-paying temporary work. Manufacturers added just 4,000 jobs. Construction firms gained 33,000, mostly on public infrastructure projects.

Professional and business services, which include IT networking jobs as well as accountants and engineers, led the gains with 76,000. Education and health care added 62,000 jobs, while a category that mostly includes restaurants and hotels gained 34,000.

The brightening picture represents a sharp improvement from the start of the year. At the time, the government was enduring a partial shutdown, the stock market had plunged, trade tensions between the United States and China were flaring and the Federal Reserve had just raised short-term interest rates in December for a fourth time in 2018. Analysts worried that the economy might barely expand in the first three months of the year.

Yet the outlook soon brightened. Chair Jerome Powell signaled that the Fed would put rate hikes on hold. Trade negotiations between the U.S. and China made some progress. The economic outlook in some other major economies improved. Share prices rebounded.

American Households Have Become More Confident

And in the end, the government reported that the U.S. economy grew at a 3.2% annual rate in the January-March period — the strongest pace for a first quarter since 2015. That said, the growth was led mostly by factors that could prove temporary — a restocking of inventories in warehouses and on store shelves and a narrowing of the U.S. trade deficit. By contrast, consumer spending and business investment, which more closely reflect the economy’s underlying strength, were relatively weak.

Consumer spending surged in March by the most in nearly a decade. A likely factor is that steady job growth and solid wage increases have enlarged Americans’ paychecks.

But American households have become more confident since the winter and are ramping up spending. Consumer spending surged in March by the most in nearly a decade. A likely factor is that steady job growth and solid wage increases have enlarged Americans’ paychecks.

Businesses are also spending more freely. Orders to U.S. factories for long-lasting capital goods jumped in March by the most in eight months. That suggested that companies were buying more computers, machinery and other equipment to keep up with growing customer demand.

Housing, too, is rebounding after home sales had slumped in the second half of last year. Mortgage rates rose to nearly 5% last fall as the Fed raised interest rates. With the Fed now putting rate hikes on hold, borrowing costs have declined.

In February, sales of existing homes jumped by the most in three years. And in March, more Americans signed contracts to buy a house. Contract signings usually lead to finished sales one to two months later.

DON'T MISS

City of Clovis Celebrates Opening of New Letterman Dog Park

DON'T MISS

Three Killed, 15 Injured in a Shooting at a Park in New Mexico’s Las Cruces

DON'T MISS

Pope Francis to Be Released From Hospital Sunday After 5 Weeks Fighting Pneumonia

DON'T MISS

3 People Killed in Russian Attacks on Ukraine’s Zaporizhzhia Despite Limited Truce

DON'T MISS

Israel Fires on Lebanon After Rocket Attack in Largest Clash Since Truce With Hezbollah

DON'T MISS

George Foreman, the Heavyweight Who Became a Beloved Champion, Dies at 76

DON'T MISS

America Is Aggravating the World’s Worst Humanitarian Crisis

DON'T MISS

Madera Drama Teacher Sees the Arts as a Gateway to Improving Literacy Skills

DON'T MISS

Researchers Say US Government Tried to Erase Sexual Orientation From Findings

DON'T MISS

As Trump Broadens Crackdown, Focus Expands to Legal Immigrants and Tourists

UP NEXT

Thousands of Veterans Could Lose Homes as Congress Debates VA Rescue Program

UP NEXT

In Rush to Release Kennedy Files, Personal Information Went Public, Too

UP NEXT

Previously Classified Files Related to JFK Assassination Released

UP NEXT

NASA Astronauts Return to Earth After 9 Months Stuck in Space

UP NEXT

Israeli Strikes Across Gaza Kill More Than 400 and Shatter Ceasefire With Hamas

UP NEXT

Visalia Motorcyclist Injured in Early Morning Crash. Police Believe Alcohol Involved.

UP NEXT

Trump Claims Biden’s Pardons Were Signed Without His Knowledge Using Autopen

UP NEXT

Niche Subreddits Shape Pop Culture – the Truth Everyone’s Missing

UP NEXT

Trump Administration Deports Hundreds of Immigrants Against Judge Orders

UP NEXT

JD Vance Is Booed at a Kennedy Center Concert After Trump’s Takeover

3 People Killed in Russian Attacks on Ukraine’s Zaporizhzhia Despite Limited Truce

15 hours ago

Israel Fires on Lebanon After Rocket Attack in Largest Clash Since Truce With Hezbollah

15 hours ago

George Foreman, the Heavyweight Who Became a Beloved Champion, Dies at 76

15 hours ago

America Is Aggravating the World’s Worst Humanitarian Crisis

15 hours ago

Madera Drama Teacher Sees the Arts as a Gateway to Improving Literacy Skills

16 hours ago

Researchers Say US Government Tried to Erase Sexual Orientation From Findings

1 day ago

As Trump Broadens Crackdown, Focus Expands to Legal Immigrants and Tourists

1 day ago

Trump Administration Fires Nearly Entire Civil Rights Branch of Homeland Security

1 day ago

Pro-Palestinian Group Sues UCLA Over Handling of Demonstrations

1 day ago

Clovis Medical School Celebrates 100% Residency Match for Second Straight Year

1 day ago

City of Clovis Celebrates Opening of New Letterman Dog Park

The City of Clovis officially opened its second dog park with a ribbon-cutting ceremony on March 22, 2025. The new Letterman Dog Park, spann...

7 hours ago

7 hours ago

City of Clovis Celebrates Opening of New Letterman Dog Park

11 hours ago

Three Killed, 15 Injured in a Shooting at a Park in New Mexico’s Las Cruces

12 hours ago

Pope Francis to Be Released From Hospital Sunday After 5 Weeks Fighting Pneumonia

15 hours ago

3 People Killed in Russian Attacks on Ukraine’s Zaporizhzhia Despite Limited Truce

15 hours ago

Israel Fires on Lebanon After Rocket Attack in Largest Clash Since Truce With Hezbollah

15 hours ago

George Foreman, the Heavyweight Who Became a Beloved Champion, Dies at 76

15 hours ago

America Is Aggravating the World’s Worst Humanitarian Crisis

16 hours ago

Madera Drama Teacher Sees the Arts as a Gateway to Improving Literacy Skills

Help continue the work that gets you the news that matters most.

Search

Send this to a friend