UNEMPLOYMENT PICTURE STAYS GOOD – AT 10:18 A.M. ET:   New-job creation could have been better, but the overall employment situation is solid.  From CNN Money:

The job market hasn't been this good in a very long time.

The unemployment rate dropped below 4% in April for the first time since 2000. The Labor Department reported Friday that it fell to 3.9% — inching closer to territory not seen in half a century.

Employers added 164,000 jobs, slightly below what economists were expecting but better than a comparatively sluggish March.

The report indicates another month of solid job growth for an economy that has been expanding for almost nine years — the second-longest streak on record.

An attempt to give Obama some credit, but the change in national economic psychology began with Trump's election.

Business would be adding even more jobs if they could find the workers they want. There are more than 6 million unfilled job openings in the United States, near a record. The number of people quitting jobs is also historically high, as people leave for better jobs.

"The employment situation continues to surprise everyone," said Robert Frick, chief economist with Navy Federal Credit Union. "Getting down to 3.9 is quite a marker."

Wages grew 2.6% from a year earlier. That was also slightly below expectations.

Hiring gains in April were broad. Professional and business services added 54,000 jobs, health care added 24,000, and manufacturing posted an increase of 24,000 jobs.

The mining sector added 8,000 jobs, extending its gains. Employment in mining has risen by 86,000 since October 2016.

COMMENT:  Republicans, if awake, must make the point that this streak can end if the Democrats/Socialists take the Congress in November.  They believe that your earnings belong to them, not to you.  They will block any economic initiative the president proposes. 

May 4, 2018