- AIM Team
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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