US unemployment rate under 4% for longest stretch since 1970s

quick take

  • Liz Ann SaundersThe U.S. unemployment rate is below 4%, the longest period since the 1970s, said Charles Schwab, chief investment strategist.
  • The unemployment rate is now at 3.7%, up from 3.4% in May.
  • The unemployment rate continues to climb as rising interest rates put further pressure on employment.
  • The Fed wants to beat the booming labor market, albeit quietly, as a way to keep inflation under control.
  • The labor market remains strong, but is expected to continue to rise moderately as the year progresses.
Unemployment rate: (Source: Liz Ann Saunders)

The US unemployment rate has fallen below 4% for the longest period since the 1970s, first published on CryptoSlate.

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