Jolly Jobs

Despite March nonfarm payrolls rising just 98,000, probably due to the nor’easter, the labor market is tightening! The unemployment rate hit 4.5%, its lowest level since 4/07 and the broadest measure of unemployment declined to 8.9%, its lowest reading since 12/07. Moreover, the labor force participation rate held steady and the employment-to-population ratio rose for the third straight month! Lastly, the number of unemployed over 26 weeks fell dramatically.