More than 80% of Americans are employed or looking for a job and the unemployment rate is down to 5.5%.
But many are still struggling to find jobs, and many are relying on government assistance for basic needs like food, housing and transportation.
Read moreThe job market is so strong that many Americans have lost track of what is expected to be a historic low in the number of Americans who are employed.
The economy has recovered to about 6.7 million jobs, according to the Labor Department, but the unemployment is at its lowest level in nearly two decades.
The unemployment rate fell below 5% for the first time in the post-World War II era, when the economy was growing at a pace of more than 6% per year.
The unemployment rate has dropped to 5% in the first quarter of 2018, the lowest since April 2009, when it was 6.3%.
The jobless rate has fallen from 6.8% to 5%.
The numbers don’t lie, though.
Many Americans are working more hours than ever, according a Gallup poll released last week, and the jobless share has fallen below 9% for more than six years.
The number of people actively looking for work has fallen by more than half, from 18.3 million in October 2008 to 12.4 million in December 2018.
The U.S. has a long way to go before the jobs picture becomes as rosy as the number suggests.
The job-creation rate has remained stubbornly stuck around 4%, even as the economy has expanded and businesses have expanded.
The jobs outlook is still far from perfect, but there are signs that things could get better.
The recovery is already making waves in the labor market, with companies and industries reporting record job growth in the fourth quarter.
Some economists are starting to see signs of recovery, too.
Economists have been predicting a strong recovery since the recession ended in 2009, but they were shocked by the number and magnitude of jobs created.
The pace of job growth has slowed in recent quarters and is still slow compared to the boom-bust cycles of the 1990s and 2000s.
The economy added 1.9 million jobs in September and was on track to add more than 5 million in 2020.
But that pace of growth is still well below the peak of the 2000s and early 2000s boom.
The jobs report is a reminder that the recovery isn’t over yet, said Brian Fung, chief economist at the Conference Board.
The report found that while more Americans are now working than ever before, the share of working-age adults who are working has remained stable since the first full quarter of the century.
The number of employed Americans has increased slightly over the past year, but still far below the boom years of the 1970s and 1980s, when about 40% of the working-aged population was employed.
The job-generating capacity of the economy is now at its highest level in two decades, and it has not been reached since the Great Recession of 2008.
The growth of the labor force has also slowed significantly in recent years, with employers dropping their unemployment rates for the second consecutive quarter.
The labor market is still recovering from the recession, but it is far from a perfect recovery, according the report.
The recovery is far more fragile than many predicted.
The latest job report comes after several other important economic indicators have come out of the current recession.
For example, U.s. factory output, the best indicator of the U. S. economy, rose by 0.2% in September, the biggest gain since May.
But the economy did not expand as much as expected, even as other sectors added.
More:Employers added 2.5 million new jobs in October, the largest monthly increase since May, according on a report from the Bureau of Labor Statistics.
This is the first gain in manufacturing in nearly five years.
Manufacturing accounts for more of the nation’s economic output than any other sector, but this year it added fewer jobs than last year.
The growth in manufacturing jobs has been slower than economists had hoped.
The factory jobs report came out on Friday after the Labor Dept. reported that the number fell by just 0.6% in October from a month earlier.
That was an improvement from the previous month, when manufacturing shed about 1.4% of its jobs.
Manufacturing added about 2.1 million jobs last month, which was the second-largest gain in a month, and is the fastest rate of growth since April.
The industrial production index, a gauge of the strength of the American economy, dropped by 0 .2% for a third straight month.
The manufacturing index was the strongest it’s been in more than three years in September.
Manufacturing employment has been falling for two straight months.
The manufacturing index fell for the sixth straight month, falling by about 2% in August.
That’s a bit of a surprise because the manufacturing index has been doing quite well.