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US jobless rate

US jobless rate hits 17-year low amid scarce labor

WASHINGTON: Unemployment in the United States fell to a fresh 17-year low in April amid steady hiring, welcome news for the White House that also could increase the chance of faster interest rate hikes. Employers added a weaker-than-expected 164,000 new positions for the month while the jobless rate fell to 3.9 percent, its lowest level since December 2000. Unemployment among African-Americans fell to 6.6 percent, the lowest since such records began more than 46 years ago. President Donald Trump hailed the drop in…