Three things to know about the latest job report from the Bureau of Labor Statistics
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Unemployment dropped again, according to the latest U.S. Bureau of Labor Statistics report.
Here are three things you should know:
The unemployment rate dropped to 3.4% in April. The last time the rate was this low was January, and before that May 1969.
This marks the 28th month in a row of solid job growth, The Washington Post reported.
It follows the 10th interest rate hike since March 2022 from the Federal Reserve. Chair Jerome Powell said he is optimistic the labor market’s resilience can help avoid a recession, but added a “mild recession” is possible.
@thesum.news In April, employers nationwide added 253,000 jobs, according to the U.S. Bureau of Labor Statistics, with employment trending up in areas such as health care, hospitality, social assistance, and professional and business services. #TheSumNews #JobsReport #Unemployment #employment #jobs ♬ original sound - The Sum
This all comes over concern about economic growth and a banking crisis. And we don’t know yet if the Fed will pause on rate increases.
