200,000 US Jobs added in May, unemployment rate @ 3.9%

200,000 US Jobs were added in May 2018 and the unemployment rate fell to 3.9% as revealed by the report of the Market Watch. The job figures reached this high for the first time in last 3 months. It is likely that the Federal Reserve will be kept on course for soon lifting the rates of interest.

The latest report on the US Labor Market does not contain any alarming news with respect to inflation, as quoted by the Market Watch.

Below is the pace of US Jobs creation in the last three months to May 2018:

• April – 164, 000
• March – 135,000
• February – 324, 000

The disparity points out to certain issues with the method in which the US government adjusts its estimates of seasonal swings in hiring as winter changes to spring. It is the opinion of several US Economists that the unemployment rate is likely to remain static at 3.9%.

On the other hand, it is likely that the rate of unemployment will decrease to 3.5% and even lower perhaps. It was last in 1969 that the rate of joblessness was as low as 3.5%. It was the year when the first human had stepped on the moon – Neil Armstrong.

The US home builders and manufacturers have abundant businesses. They are enjoying increased sales but are finding it challenging to find good workers to cope up with the demand.

Meanwhile, it is astonishing that the crunch in labor market has not driven the firms to offer much-enhanced salaries. It was noted by Beige Book of Fed that nevertheless, several firms have responded to the shortage of skilled workers by enhancing wages.

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