Economy adds 263K jobs in April, blowing past expectations

Source: The Hill | May 3, 2019 | Sylvan Lane

The U.S economy added 263,000 jobs in April, the Labor Department reported Friday, blowing past expectations.

The unemployment rate also dropped 0.2 percentage points to 3.6 percent, the lowest jobless rate since 1969, driven in part by a 0.2-point decline in the labor force participation rate to 62.8 percent.

Economists expected the economy to add roughly 190,000 jobs in April after the economy added an average of 180,000 jobs per month and gross domestic product rose at an annual rate of 3.2 percent in the first quarter of 2019.

Average hourly earnings have also increased 3.2 percent over the past 12 months.

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