U.S. Unemployment Drops to 5%, Lowest Since Sept. ‘01

The number of unemployed in the United States fell in June as employers hired 146,000 workers, the Labor Department said Friday, pushing the overall unemployment rate down to 5%, its lowest in nearly four years.

The increase in payrolls was less than expected, Bloomberg News reported. A survey of analysts predicted a 200,000 increase in payrolls.

The unemployment rate fell 0.1% from May when the rate was 5%. The decline brought the unemployment rate to its lowest point since September 2001

Because employment levels drive so much economic activity, an increase in employment can help consumer confi-dence and spending patterns, which affect trucking demand.

Important manufacturing payrolls fell 24,000 in June – the most since January and following a 6,000 decline in factory jobs in May. The U.S. economy added 150,000 service jobs rose in June.