Posted April 04, 2019 08:15:54When the sun comes up in the winter months, the economy in the U,S.
is booming, even if there are still some lingering doubts about the future of the economy and job creation.
President Donald Trump has said that the economy is “back on track.”
And, in fact, it is, according to the Bureau of Labor Statistics.
On Thursday, the Labor Department released its first monthly employment report since the start of the Great Recession in December 2009.
That report, which will be widely seen as the official version of the U-turn, found that job growth hit a new three-year high in April.
In fact, the first three months of 2019 were better than the previous three months.
In the first quarter of 2019, the unemployment rate ticked down to 5.2 percent, the lowest since January 2020, the Bureau said.
That’s better than economists expected, and well below the 5.7 percent unemployment rate that had been the consensus for the first six months of the year.
Still, economists say the jobless rate will remain above 5 percent for years to come.
The real unemployment rate is around 8.7%.
And the longer the recovery is in the offing, the higher the unemployment rates.