NY Times: Unemployment Rate Hits 3.9%, a Rare Low, as Job Market Becomes More Competitive

On Friday, the U.S. Labor Department released its monthly hiring and unemployment report for April. As noted by a recent article in the New York Times, the unemployment rate was 3.9 percent. That’s the lowest rate seen since 2000, which is sign that the job market has become more competitive.

In April,164,000 jobs were added to the economy, with average earnings rising by 4 cents per hour. This report marks the 91st consecutive month of jobs gains, which is the longest streak of increases on record. As the New York Times notes, the last time the unemployment rate stayed at a level below four percent for an extended period of time was back in the 1960s.

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