US jobless rate falls to 3.9%, lowest since 2000

Unemployment in the United States fell to 3.9%, the lowest since 2000, in April as hiring rebounded. Employers added 164,000 new positions for the month. Unemployment among African-Americans fell to 6.6%. President Donald Trump hailed the drop in unemployment, which had held steady at 4.1% for six months. Employment gains were felt more in business services, health care, education, construction and manufacturing. The increase, the 91st consecutive monthly gain, is more than enough to keep up with population growth. The fall in jobless rate shows the job market has become more competitive. It also means the total size of the labor force was not increasing, which is likely to make it harder to find workers and could drive up inflation. The pool of available workers is drying up, forcing many to raise wages to attract qualified candidates, which raises concerns about inflation.