Unemployment dropped below 4 percent in April, hitting a 17-year-low, as businesses continued to hire modestly.
Businesses added 164,000 jobs were added, as the unemployment rate dropped to 3.9 percent. The unemployment rate peaked at 10 percent in October 2009.
April’s wage growth, too, was moderate, with average hourly earnings increasing 2.6 percent from a year before—slightly below the pace of growth in March.
Job growth slowed somewhat in March, to a revised 135,000, after a blowout February that saw 324,000 jobs created.
This is a developing story…
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