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One of the closely watched indicators of how the U.S. economy is doing indicates its booming. The Bureau of Labor and Statistics recently released its latest jobs report. It provides statistics from the month before on hiring, wages and the unemployment rate, the percentage of the American workforce that doesn't have a job. The government says 263,000 jobs were added in April. That's more than economists predicted. It says hourly wages per American workers were up 3.2 percent over last year. That's less than economists predicted. And the report says the unemployment rate dropped even further to 3.6 percent. That's the lowest level it's been in 50 years.
Last time the unemployment rate was that low, the Beatles were still together and President Donald Trump had recently graduated from college.
One factor behind the unemployment rate decrease was because fewer Americans were looking for work. Sometimes that's not seen as a good sign.
But there are still more jobs available in America than there are workers to fill them. Ond overall the report was seen as very good news for the U.S. economy.
