 Money News at 10 and 40, past the hour, brought to you by PenFed. Great rates for everyone. Here's Mark Hamrick. What's going on with the once red-hot job market? I'm Mark Hamrick with a Bankrate.com personal finance minute. It was in April last year the nation's unemployment rate hit the lowest level in more than 50 years, 3.4%. The pandemic and subsequent reopening of the economy knocked the economy for a loop, and the rush to rehire was among a variety of factors associated with a historic burst of inflation.