USA unemployment rate falls below 4%; not all is well, says report

This year the economy has added an average of 202,000 jobs each month

This year the economy has added an average of 202,000 jobs each month

In April, employers added 164,000 jobs to their payrolls, slightly less than the 193,000 projected by a Bloomberg poll of economists.

Mickey Levy of Berenberg Capital Markets called the jobs report a "mixed bag", but said the unbroken string of hiring was "impressive".

The overall unemployment rate fell to 3.9 percent in April.

The job market hasn't been this good in a very long time.

But 236,000 people left the labor force in April. Yet, the unemployment rate among black Americans was 6.6%. And some economists say the ever-lower unemployment rate suggests that a wider swath of Americans soon stand to benefit from stronger pay growth.

Treasury yields dipped and the dollar fluctuated following the report.

As the US economy continues to improve at an unexpected pace, Americans are spending their biweekly checks on $62-a-barrel crude oil, screenings of "Avengers: Infinity Wars", downloads of Drake's "God's Plan", and 13.5 million new PCs a quarter.

Average hourly pay in the private sector rose 2.6% year-on-year to $26.84 while the average hourly wage in the private sector increased by only 0.1% over the month. "Why this tightness is not feeding into greater average hourly earnings growth remains a bit of a puzzle".

Employers nationwide report the pool of available workers is drying up, forcing many to raise wages to attract qualified candidates, which raises concerns about inflation.

Singapore-KL is world's busiest global air link
The route between Dublin and London was the busiest in Europe with more than 14,000 flights in the 12-month period. John Grant, a senior analyst with OAG said: 'These airline routes are among the most competitive in the world.

That's the silver lining for what is, if not a dark cloud, at least a surprisingly off-color one: Even though unemployment is a mere 3.9 percent, wages don't seem to be rising much faster than they have for the last couple years, and at nowhere near the rate they were before the crash.

Inflation is flirting with the Fed's 2 percent target. Expectations are that the central bankers will hike interest rates three more times this year. However, wage growth was weaker than expected.

Meanwhile, the participation rate slipped 0.1 percentage point to 62.8 percent, erasing part of an outsize gain from February that had indicated workers were being pulled in from the sidelines, Labor Department figures showed Friday.

Another measure of unemployment that includes discouraged workers and those holding part-time positions for economic reasons fell to 7.8%, the lowest since July 2001.

The gains reflect an economy that has been steadily expanding for nearly nine years, gradually putting more people to work after the country endured the worst financial meltdown since the Great Depression in the 1930s.

In Alaska, March was the 29th consecutive month of job losses recorded by the State Department of Labor and Workforce Development.

The retail sector added 1,800 jobs.

Payrolls for temporary help, seen as a harbinger of future permanent hiring, rose by 10,300 after falling by 2,100 in March. The economy has added jobs every month for seven and a half years, the longest streak on record.

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