Wash: Unemployment rate is lower than a year ago, and job growth is accelerating

At a press conference, Federal Reserve Chair Jerome Powell noted that the U.S. unemployment rate has fallen below its level from a year ago, job growth has significantly outpaced last year’s pace, and the four-week moving average of initial unemployment claims has remained at a multi-decade low—leading him to conclude that current conditions are performing exceptionally well with respect to the Fed’s employment mandate under its dual mandate.