US unemployment rate falls to an 18-year low

Press Trust of India  |  Washington 

America's rate dropped to 3.8 per cent from 3.9 per cent, the lowest in 18 years, as 223,000 new jobs were added in the month of May, according to the latest figures released today.

Over the year, the rate was down by 0.5 percentage point and the number of unemployed persons fell by 772,000, the bureau said in its monthly jobs report.

The average hourly pay of private sector workers increased 2.7 per cent year-on-year, compared with 2.6 per cent in April.

However, the accused of breaking the protocol by tweeting about the monthly report about an hour before it was released.

"Looking forward to seeing the employment numbers at 8:30 this morning," Trump tweeted, which the alleged was breaking of the protocol as no in the past has spoken about it before the release of the monthly report.

Traditionally, the report is shared with president's a day before it is released.

There was no immediate reaction from the

The report comes as a good for the Trump, as it reflects an upswing in the American economy and unemployment going down to a record low.

"This is a good report that reflects Republicans' goals for tax reform: more jobs and higher wages. In addition to solid jobs gains, the big boost to investment in the first quarter of 2018 should lead to higher productivity meaning even bigger paychecks for our workers in the future," House said.

"It's a real shot in the arm to the story the US has the strongest economy among the major developed economies," Luke Tilley, at told 'The Wall Street Journal'.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 01 2018. 19:30 IST