Jobless Rate Falls to 18-Year Low

What’s the story?

• The unemployment rate fell to 3.8 percent in May, the lowest it’s been in over 18 years.

Breaking down the numbers

• The economy added 223,000 jobs in May—the 92nd consecutive month of job creation.
• Adult women and adult men recorded the lowest unemployment rates since 2000, at 3.3 percent and 3.5 percent respectively.
• Unemployment among African-Americans fell to 5.9 percent from 6.6 percent in April. This is the lowest it’s been since the Labor Department began tracking race in 1972.
• Unemployment among college graduates is 2 percent while those with a high school diploma have an unemployment rate of 3.9 percent.
• Over the past year, the jobless rate among 16- to 19-year-olds has fallen from 14.1 percent to 12.8 percent.
• Wages are 2.7 percent higher than this same time last year.

What do you think?

Are you feeling the effects of this robust economy? What more – or less – can the government do to increase job growth? Hit Take Action and tell your reps, then share your thoughts below.

—Josh Herman

(Photo Credit: milanvirijevic / iStock)