For the first time since the financial crash in 2008, U.S. unemployment has dropped below 5 percent. In additional good news for workers, wages are finally rising, ticking up half a percentage point in January.
"The progress we've made going from 10 percent to under 5 percent, that's a testament to American workers, American businesses, American people being resilient and sticking to it," said President Obama at a Friday press conference in response to the news.
But economists caution that things are far from hunky dory. For one, the economy only grew at 0.7 percent during the final quarter of 2015, causing some concern that another global economic slowdown — even another recession — could be afoot.
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