Employment showed strong growth in April (340,000 workers), following March’s upwardly revised gain of 458,000. About one-fourth of this increase reflects the hiring of temporary census takers (190,000 in the past two months). Another measure of labor market strength, the employment-to-population ratio, rose 0.2% to a record high of 64.9%. The unemployment rate fell to 3.9%, its lowest point since January 1970.
Suggested citation: "Labor Markets," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-05, pp. 11, 05.01.2000.