Unemployment Continues to Plummet: 27 Months and Counting

The labor market has been thriving and is predicted to reach a significant milestone in April. Instead of high employment, the market is expected to match the previous longest period of low unemployment on record. Economists anticipate that the upcoming jobs report from the Bureau of Labor Statistics will reveal the unemployment rate remaining at 3.8 percent, marking the 27th consecutive month of unemployment below 4 percent.

This achievement would closely mirror a period of low unemployment from 1967 to 1970 and come very close to the longest period on record, which took place from 1951 to 1953. The consistently low unemployment rate is an optimistic sign for the economy and reflects the robustness of the current labor market.