US unemployment falls to 3.8pc in May, lowest in 18 years

WASHINGTON: The US unemployment rate fell to its lowest level in 18 years in May, the Labor Department reported Friday, showing the world's biggest economy remains robust even as it stands on the precipice of an all-out trade war.

The jobless rate fell to 3.8 percent from 3.9 percent in the prior month, the lowest level since April 2000.

With a shortage of workers reported throughout the country and across many industries and skill levels, the latest data confirmed wages are rising.

The economy added 223,000 non-farm jobs last month, stronger than the consensus forecast of economists, and better than the increase of 159,000 in April.

And the jobless rate for black or African American workers dropped sharply in the month to 5.9 percent from 6.6 percent, the lowest since the government began keeping records in 1972.

President Donald Trump has been touting that figure as a major accomplishment of his economic policies.

"We have reached yet one more historic milestone with 3.8 percent unemployment just announced, and another all-time record low African-American unemployment," Trump said at an event shortly after the data were released.

"We're very honored by that. And by way, for the women out there, the lowest unemployment in 19 years."

However, the pool of available workers -- defined as those working or actively looking for work -- continued to decline, which was the main driver behind the lower unemployment rate.