US economy added 263,000 jobs in April; unemployment rate falls to 3.6%, the lowest since 1969, new jobs report shows.
The economy added a healthy 263,000 jobs in April, firmly beating analyst expectations of 190,000, according to Friday’s monthly snapshot from the Department of Labor.
While some of those job gains can be attributed to government hiring of the first wave of temporary workers to carry out the 2020 Census — a number that will eventually hit 500,000 by early next year — April's figures are a firm indication that the economy remains on a robust growth track. With more open positions than people available to fill them, it's still a job hunter's market, pushing wages higher as companies compete for the best workers. That higher pay, together with low inflation and low borrowing rates, are boosting the economy. The Federal Reserve announced on Wednesday that for the third time this year, citing inflation below its target rate of 2 percent as one of the reasons for that decision.
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