In April, the U.S. economy added 211,000 jobs and the unemployment rate fell to a new post-crisis low of 4.4%. This is the lowest unemployment rate since May 2007.
Wages, which are closely tracked by the Federal Reserve, rose 0.3% month-on-month, as expected.
The under-employment rate fell to 8.6% after hitting a post-crisis low of 8.9% in March. Last month, Gary Cohn, President Trump’s chief economic advisor, said the administration is focused on the underemployment rate.
Following the report, U.S. stock futures were little-changed. Treasury yields were also little-changed, with the 10-year sitting near 2.35% and the 2-year near 1.31%.
Retail sector jobs were up by a little more than 6,000 in April. The biggest additions were from leisure and hospitality jobs, which rose by 55,000, and education and health services jobs, up 41000 in April.
Well, finally some good news…