WASHINGTON — A drop in the unemployment rate to a 16-year low raises a tantalizing question about the job market: How much better can it get?Earlier this year, economists worried that the low unemployment rate meant businesses would struggle to find workers and that would drag down the pace of hiring. Those fears were heightened by a tiny job gain in March and modest hiring in May.Yet Friday's jobs report suggests such concerns are premature. Employers added 209,000 jobs, after a solid gain of 231,000 in June, the Labor Department said.
Jobless rate at 16-year low
How much better can it get?