The unemployment rate dropped to a 50-year low

The U.S. labor market is in great shape. The unemployment rate dropped to a 50-year low of 3.6 percent in April, wages are high and total nonfarm employment reached a historical high of 151.1 million, according to the latest estimates by the Bureau of Labor Statistics. The U.S. is not alone in enjoying a strong job market at the moment though. According to the IMF’s latest World Economic Outlook, the employment situation in most of the world’s largest economies has improved significantly over the past five years. Read more.