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Labor Markets

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April was a record-setting month for many labor market indicators. The unemployment rate fell to levels not seen since 1970, the employment-to-population ratio matched the record high set at the beginning of this year, and hourly earnings posted the largest gain in more than a year.

Suggested citation: “Labor Markets,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-05, pp. 12, 05.01.1998.

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