Nearly Full Employment Spawns Competition for Workers
Washington, D.C. (May 4, 2018) —Another tumble in the unemployment rate last month shows the growing strength of the US economy, said the Job Creators Network today. According to the April Jobs report, released this morning, 164,000 jobs were created last month and the unemployment rate dropped to 3.9 percent—a rate rarely reached during the past 70 years. Furthermore, wages rose by 4 cents, a 2.6 percent year-over-year increase.
“Job creation overall during the last year has been strong and as a result, the U.S. labor market is nearing full employment” said JCN President and CEO Alfredo Ortiz. “Higher consumer demand, fueled in part by the tax cuts, means that employers are paying higher wages and increasing benefits. That’s drawing even more people back into the labor market.”
“The competition among employers for a shrinking pool of available labor is getting hot, and that’s good news for employees,” he continued.
The current strength of the U.S. economy is being highlighted by the recent launch of JCN’s Tax Cuts Work bus tour. JCN is making roughly 50 stops in 30 states over the next several months to educate voters about how the 2017 tax cuts legislation has been a major contributor to the current roaring economy—specifically benefiting small businesses.