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Jobs surge in April, unemployment rate falls to the lowest since 1969

According to the Labor Department There were 263,000 new hires and the unemployment rate fell to 3.6%.

Nonfarm payroll growth easily beat Wall Street expectations of 190,000 and a 3.8% jobless rate.

Average hourly earnings growth held at 3.2% over the past year, a notch below Dow Jones estimates of 3.3%. The monthly gain was 0.2%, below the expected 0.3% increase, bringing the average to $27.77. The average work week also dropped 0.1 hours to 34.4 hours.

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