Jobless Rate Looks Like Old Times, but the Economy Doesn’t
[ad_1] The last time the unemployment rate fell below the 4 percent threshold was in 2000, during a period of frenetic activity remembered as the dot-com boom. Nine years into a sustained, if less feverish, economic recovery, that milestone has been achieved again. The Labor Department said Friday that the jobless rate in April fell to 3.9 percent, raising anew the question of just how tight the labor market can get, and for how long. In the past half-century, only the late 1960s brought an extended period when the rate stayed below 4 percent. “We’ve continued to add jobs routinely every month for so long, and the unemployment rate we have reached is amazing,” said Catherine Barrera, chief economist of the online job site ZipRecruiter. President Trump crowed about the landmark on Friday, tweeting, “4% is Broken!” The steady-as-she-goes economy has produced a record 91 straight months of job growth. That may represent a healthier foundation than the dot-com era, when pride — or, as it w...