U.S. Jobless Rate Falls Below 4% - What Does it Mean For You?

www.wsj.com

Unemployment in the U.S. has fallen to one of the lowest levels of the post-World War II era, the result of a historically long jobs expansion that shows little evidence of slowing. Employment rose in industries including manufacturing, healthcare, and accounting, adding a total 164,000 jobs. As new jobs are added monthly and workers become this scarce, employers raise wages quickly to recruit and retain employees. The construction sector has added 257,000 jobs over the past year and industry wages have grown 3.5%. This has spurned the battle for the employment market as small industrial towns across the US are using flashy incentives to attract millennials to relocate to their cities for jobs. Relocate to Hamilton (Ohio) and the city promises $5,000 to help pay student loans. Pack up for Grant County, Ind., and claim $5,000 toward buying a home. Settle in North Platte, Neb., and the chamber of commerce will hold a ceremony in your honor to present an even bigger check.

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