9 percent unemployment rate is largely due to 263,000 leaving the workforce. The rate is excellent, pce inflation may 2014 headline forex should not be overstated. That said, U-6 Unemployment, dropped to its lowest rate since July,2001. While the economy still churns positive numbers, those numbers are less robust than they were in 2018Q1.
Consequently, we put the final print of the current quarter at just. Consequently, we put the final print of the current quarter at just 2. We had a disappointing jobs report for April that fell below expectations: 164,000 new jobs versus the 189,000 that were forecast. Today’s revisions resulted in 30,000 more jobs than had been previously reported for February and March.
2 of a percentage point from last month and 0. 5 of a percentage point from the same period last year. The labor participation rate was 62. 1 percentage point from the same period last year and also down 0.
But 263,000 workers left the work force from March, which distorted the unemployment rate, as discussed further below. The U-6 measure of people marginally attached to the workforce was 7. 8 percent, down 80 basis point from the same period in 2017, and 0. 2 of a percentage point from last month. It is the lowest U-6 measure since July, 2001. Gainers and losers were pretty evenly spread over all the categories of occupations.
The bigest month-to-month decline in jobs creation was in the Wholesale Trade and Retail, which is consistent with 2018Q1 GDP, where inventories were built up, so it makes sense the first month of the new quarter would show declines in those categories. Leisure and Hospitality, as hotels and restaurants staff up for summer travel. Nominal average weekly wages increased 2. 82 percent, year-on-year, down 50 basis points from the March increase of 3. Month-to-month average weekly wages increased just 1.