US unemployment rate declines but not enough increase in wages

Last time the unemployment rate stayed below 4 per cent for a sustained period was in the 1960s

The last time the unemployment rate fell below the 4 per cent threshold was in 2000, during a period of frenetic activity remembered as the dot-com boom.
 

Nine years into a sustained, if less feverish, economic recovery, that milestone has been achieved again.

The Labour Department said Friday that the jobless rate in April fell to 3.9 per cent, raising anew the question of just how tight the labour market can get, and for how long.

In the past half-century, only the late 1960s brought an extended period when the rate stayed below 4 per cent.

“We’ve continued to add jobs routinely every