U.S. employers added 263,000 jobs in April, topping economists’ forecasts.
Although the nation’s jobless rate fell to 3.6 percent, the lowest level since 1969, the decline was largely because many Americans left the labor force last month. Wages are growing at a decent clip, but not as fast as they have in the past when unemployment is so low.
Businesses hired 263,000 workers in April, again defying many economists’ expectations that a tight labor market would slow job-creation. Economists were expecting about 190,000 jobs to be added for the month.
The unemployment rate ticked down to 3.6 percent, the lowest since December 1969, when it hit 3.5 percent. But it fell largely because half a million Americans left the labor force, meaning fewer people were counted