The Bureau of Labor Statistics reported Friday that U.S. unemployment has fallen to 3.9%, with a modest increase in jobs totaling about 164,000 in the month of April.
The unemployment rate itself is noteworthy—the lowest it has been since 2000. The unemployment rate among African Americans, sitting at 6.6%, is the lowest rate ever recorded.
Wages are not increasing as quickly, which is puzzling to many. “Economists expect the unemployment rate will drop to 3.5 percent by the end of the year. Though the decline in the labor force accounted for the drop in the unemployment rate last month, labor market slack is diminishing. That, together with a shortage of skilled workers, should put upward pressure on wages in the months ahead, economists say,” according to a report by Reuters.
And of course, President Trump had his own on-brand spin on the good news in light of adult film star- and Russian collusion-related media noise:
JUST OUT: 3.9% Unemployment. 4% is Broken! In the meantime, WITCH HUNT!
— Donald J. Trump (@realDonaldTrump) May 4, 2018