The national unemployment rate now stands at 3.9 percent, the lowest level in nearly two decades, according to U.S. Labor Department figures for April.
A major driver behind the lower unemployment number was that a large number of Americans have exited the workforce: labor force participation was at 63 percent, close to its lowest level since the 1970s and unchanged since the start of 2018.
During his 2016 campaign, President Donald Trump raised questions about the validity of the official unemployment rate because it fails to account for people who have dropped out of the workforce.
About 164,000 jobs were added in April, which was significantly lower than the expected increase of 192,000. That compares to 135,000 jobs added in March, Politico reported.
What about wages?
Average hourly private-sector wages were 2.6 percent higher than April of the previous year, and about the same level as March. The figure does not reflect the annual inflation rate of slightly over 2 percent.
In October, the White House Council of Economic Advisers predicted the tax bill would boost the average household income by at least $4,000.