Unemployment Falls to Lowest in 49 years, 263,000 Jobs in April!

Written by Editor-in-Chief

Screen Shot 2019 05 03 at 2.09.09 PMThe US is economy is celebrating a red letter day!  The word is Jobs. Jobs. Jobs.

According to the Department of Labor, the US added 263,000 new hires in April, the unemployment rate fell to 3.6%, the lowest since 1969.

Professional and business services added 76,000 jobs in April. Construction added 33,000, making its 12 month total 256,000.

The health care sector grew by 27,000 jobs in April. 

Financial jobs rose by 12,000. Manufacturing employment changed little for the third month in a row, rising by just 4,000.

Mining, warehousing, leisure and hospitality, information technology, and government were also close to flat for the month.

Average hourly earnings rose by 6 cents to $27.77. Over the year, average hourly earnings have increased by 3.2 percent. Inflation is running at 1.5 percent, so real average hourly earnings have gone up by 1.7 percent.

These numbers conflict with Obama's depressing job predictions in July 2016 during an Elkhart, Indiana townhall gathering. Speaking about the loss of manufacturing jobs that gave rise to the rustbelt, Obama said: 

"Some of those jobs from the past are not just gonna come back."

Referring to President Trump's campaign promise to bring jobs back to the US. Obama said: "He's [Trump's] gonna bring all these jobs back? Well how is he gonna do that?"

"The answer is he [Trump] doesn't have an answer. There's no answer to it. What magic wand do you have?"

Someone's waved a wand across the US. Drudge described US economy as the "envy of the world!"