May 4, 2018

U.S. unemployment drops below 4%, the first time since December 2000

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. unemployment rate fell to to 3.9% in April, the first time it's fallen below 4% since December 2000. Economists expected a 4% drop.

The U.S. also added 164,000 jobs last month, up from 103,000 in March, but lower than the 192,000 consensus forecasted by economists.

Our thought bubble, per Axios' Dan Primack: Markets care more about the top-line number ... it was a relatively weak report.

More analysis:

The backdrop: The U.S. added 324k jobs in February, 135k jobs in March, and now 164k in April. University of Michigan professor Justin Wolfers tweeted that on average, this yields a job growth rate of 200k per month. "That's a very healthy rate."

Go deeper

Situational awareness

Photo: Drew Angerer/Getty Images

Catch up on today's biggest news:

  1. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  2. Trump misrepresents 2020 Russia briefing as Democratic "misinformation"
  3. Bernie Sanders takes aim at Bloomberg: "Trump will chew him up and spit him out"
  4. Nearly half of Republicans support pardoning Roger Stone
  5. Scoop: Lyft acquires cartop advertising startup Halo Cars

Sanders takes aim at Bloomberg: "Trump will chew him up and spit him out"

Photo: Mario Tama/Getty Images

Bernie Sanders told CBS "60 Minutes" that he was surprised by Mike Bloomberg's lackluster performance at Wednesday's Democratic debate.

What he's saying: "If that's what happened in a Democratic debate, you know, I think it's quite likely that Trump will chew him up and spit him out."

Scoop: Lyft acquires cartop advertising startup Halo Cars

Photo: Drew Angerer/Getty Images

Lyft has acquired Halo Cars, a small startup that lets ride-hailing drivers earn money via ad displays mounted atop their cars. Lyft confirmed the deal but declined to share any details.

Why it matters: Ride-hailing companies are increasingly eyeing additional ways to generate revenue, and Lyft rival Uber has been quietly testing a partnership with New York-based Cargo that gives it a cut of the advertising revenue, as I previously reported.