Unemployment drops below 5% for first time since 2008
- 8 years ago
The U.S. unemployment rate has dropped below 5% for the first time since 2008 and wages are finally on the rise, indicating that the multi-year economic recovery is not done yet.
The Labor Department's January report found that the U.S. added 151,000 jobs in the first month of the year, putting the unemployment rate at 4.9%.
The paychecks of the average American are also growing, an important element of the broader economic recovery that has lagged behind overall job growth.
Market pessimists have begun to argue that these headwinds are going to be enough to send the U.S. economy into a recession - a period of economic contraction.
The Labor Department's January report found that the U.S. added 151,000 jobs in the first month of the year, putting the unemployment rate at 4.9%.
The paychecks of the average American are also growing, an important element of the broader economic recovery that has lagged behind overall job growth.
Market pessimists have begun to argue that these headwinds are going to be enough to send the U.S. economy into a recession - a period of economic contraction.