United States employers added 164,00 jobs in April bringing the unemployment rate down with it. After 6-months of sitting at 4.1 percent the U.S. unemployment rate now sits at 3.9 percent. The overall unemployment rate remains at the lowest rate since December 2000.
Experts believe that wage growth will start to climb this summer, as employers are finding it increasingly more difficult to fill positions.
Manufacturers added 24,000 workers last month. Restaurants and hotels hired a net 18,000. The health care and social assistance sector added 29,300 jobs and the construction industry 17,000.
The steady job growth is good news for the housing market. The National Association of Realtors said that homes sold at a solid annual pace of 5.6 million in March, even though the number of houses for sale has plunged.