The current economic expansion is now the second-longest on record.
Nearly nine years into the recovery, the job market keeps delivering: The government said Friday that employers added 164,000 jobs in April — the 91st straight month of hiring growth, the longest such streak on record. More tellingly, the unemployment rate fell to 3.9 percent, the lowest since December 2000. Eight years ago, the jobless rate was 10 percent.
Average hourly earnings have risen 2.6 percent from a year ago. That is slightly more than the year-over-year wage growth of roughly 2 percent that prevailed in 2014 and 2015, when the unemployment rate was higher