U.S. UNEMPLOYMENT DIPS TO 3.8%

The U.S. unemployment rate dropped to 3.8 per cent in May, the lowest in 18 years, as per Labor Department data. The economy added 2,23,000 jobs, recording strong growth across sectors, although wages grew at a modest 2.7 per cent. Black unemployment also fell to a record low. However, the employed percentage of America’s population stands at 60.4 per cent, well below pre-recession levels.