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US Unemployment Rate Goes Below 4%, First Time Since 2000

The drop to 3.9 per cent comes after six consecutive months in which the employment rate remained stable at 4.1 per cent.

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The US' headline unemployment rate fell to 3.9 per cent in April, the first time it has dropped below 4 per cent since 2000, the government said on Friday.
US Unemployment, Pixabay

The US’ headline unemployment rate fell to 3.9 per cent in April, the first time it has dropped below 4 per cent since 2000, the government said on Friday.

The current jobless rate in the US indicates a market with virtually full employment, though the creation of 164,000 new jobs was slightly below analysts’ expectations, Efe reported.

Economists had forecast that the US economy would create some 190,000 jobs in April, but even so, it was the 91st straight month to show increased employment in the US, the longest labor market growth streak on record.

The current jobless rate in the US indicates a market with virtually full employment, though the creation of 164,000 new jobs was slightly below analysts' expectations, Efe reported.
Donald Trump, Wikimedia Commons

The drop to 3.9 per cent comes after six consecutive months in which the employment rate remained stable at 4.1 per cent.

As for workers’ wages, on average they were up 4 cents an hour last month, the equivalent of 0.1 per cent or $26.84, and are expected to remain on the rise due to the continuing demand in the labor market.

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The labor force participation rate, defined as the share of the population 16 years and older either working or seeking work, dropped minimally from 62.9 per cent to 62.8 per cent.

This report on a robust labor market raises expectations that the Federal Reserve will increase interest rates, currently between 1.5 per cent and 1.75 per cent, at its next policy meeting in June. (IANS)

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Local News Dry up for Facebook Media Project in US

In January this year, the Facebook Journalism Project announced to invest $300 million in local newsrooms

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A photo shows the Facebook app icon on an iPhone in New York, Feb. 19, 2014. VOA

Facebook is having trouble finding enough local news to feed its new journalism initiative, because hundreds of newspapers have shut down in the US.

“About one in three users in the US live in places where we cannot find enough local news on Facebook to launch ‘Today In’,” Facebook wrote in a blog post on Monday.

In those “news deserts” – communities with little or no local reporting – Facebook hasn’t been able to find “five or more recent news articles directly related to these towns” for its news feature “Today In” that was launched in November last year.

“In the last 28 days, there has not been a single day where we’ve been able to find five or more recent news articles directly related to these towns.

“This does not vary much by region: 35 per cent of users in the Midwest, Northeast, and South — and 26 per cent in the West a” live in places where we can’t find much local newson Facebook,” said the social networking company.

Facebook, data, vietnam
This photo shows a Facebook app icon on a smartphone in New York. VOA

“Today In” has been rolled out to over 400 cities in the US.

“We’re also announcing a new pilot programme, the Facebook Journalism Project Community Network, to support projects aimed at building community through local news,” said Facebook.

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According to Engadget, nearly 1,800 papers have shut down in the US since around the time Facebook came online 15 years ago.

In January this year, the Facebook Journalism Project announced to invest $300 million in local newsrooms. (IANS)