Article source: ConstructConnect

The lead paragraph of the Bureau of Labor Statistics (BLS)’s July Employment Situation  report highlights that total nonfarm payroll employment in the U.S. rose by 157,000 jobs during the latest month.

And that the unemployment rate declined again to 3.9% from 4.0% in June. The lowest the unemployment rate has reached in this cycle was 3.8% two months ago, in May.

Historically, the U.S. unemployment rate never falls much lower. The last time it was 3.8% was in April of 2000. Eighteen years have passed since then.

The seasonally adjusted (SA) unemployment rate through the first seven months of this year has averaged 4.0%. During the same time frame of last year, it was 4.5%.
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