The national unemployment rate dropped to 3.9% in April after holding steady for 4.1% for six months. The current rate is the lowest it has been since December 2000, ABC News reported.
In addition to more hiring, workers are now making an average of 2.6% more in pay than this time a year ago.
One possible negative of the strong job market is an increase in inflation. Consumer prices rose 2.4% on the year which outpaces the ideal growth of just 2%.
While the real estate market stays strong, The National Association of Realtors attributed a slight decline in sales because of a lack of available inventory. Also, the average price of a home is increasing at twice the annual rate of income for the average worker.