April report tops expectations, unemployment rate rebounds

In April, the U.S. economy added 211,000 jobs and the unemployment rate fell to a new post-crisis low of 4.4%. Wages, which are closely tracked by the Federal Reserve, rose 0.3% month-on-month, as expected. The the annual increase in wages, however, disappointed with wages up just 2.5% over the same month last year.

The underemployment rate fell to 8.6% after hitting a post-crisis low of 8.9% in March. Last month, Gary Cohn, President Trump’s chief economic advisor, said the administration is focused on the underemployment rate. Capping a busy week for markets and political news, the report was expected to show a rebound in hiring last month after March’s report disappointed.

April report tops expectations, unemployment rate rebounds

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