U.S. Unemployment Falls To 3.8%

The unemployment rate for the nation’s sizzling job market fell to its lowest level in 18 years as 223,000 were added to the nation’s labor pool in May, according to new data released Friday (June 1) by the U.S. Bureau of Labor Statistics (BLS).

At 3.8%, U.S. unemployment now matches Arkansas’ jobless rate, which was a full point above the national average just a year ago when it dropped to an all-time low of 3.5% in May, June and July. While Arkansas’ jobless rate has remained stagnant over the past 12 months, U.S. Labor Department officials said the U.S. unemployment rate has declined seven percentage points over the same period to levels not seen since turn of the century.

“With the unemployment rate falling to 3.8% in May, the lowest in over 18 years, America’s job market remains strong,” said U.S. Labor Secretary Alexander Acosta. “With 223,000 jobs created in May, America’s job creators have now added over 3.4 million jobs since President Trump’s election. That job increase includes more than a million jobs since the president signed his tax cuts package into law five months ago.”   MORE

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