The job market remains competitive and expectations are that hiring will slow as employers will find it increasingly harder to find new workers.  The drop in the unemployment rate is also being influenced by the decline in the labor participation rate.  Economists fear that this could signal that people might be feeling less optimistic about job prospects. 

 

US employers continue to expand their payrolls with this 91st consecutive month of jobs gains.  This extended recovery claims the longest streak of gains on record.  164.000 jobs were added in April.  This number was short of economists' projections, but the revisions from February and March numbers netted an increase of 30,000 job on the year. 

 

Average earnings rose by 4 cents and hour and up 2.6% over the past year.  This slow growth in wages continues to surprise investors who think the tight labor market would necessitate employers to increase wages.   Somehow, wage inflation has yet to catch up to expectations.

 

Once again, this is a strong jobs report but it remains to be seen how the impact of the current administration's new tariffs and hints of trade wars will affect the longer view of the economy.