Record Low Unemployment Rate

We are going through a remarkable period of low unemployment, which is great for the economy and for all workers. Low unemployment historically corresponds with strong GDP growth and wage growth. This time around, we are getting both effects, without an increase in inflation which makes this a triple bonus. 4 years ago, in March of 2015, we thought we had achieved a great low point for unemployment at 5.5%. Last week, we learned that March 2019’s unemployment rate was 3.8%. This is 1.7 percentage points lower than March 2015’s rate, a 31% decrease. This shows remarkable durability to our post-crisis recovery which in a few months, will become the longest expansion on record.