This is the best tl;dr I could make, original reduced by 65%. (I'm a bot)
The U.S. jobs machine kept humming along in April, adding a robust 263,000 new hires while the unemployment rate fell to 3.6%, the lowest in a generation, according to a Labor Department report Friday.
Nonfarm payroll growth easily beat Wall Street expectations of 190,000 and a 3.8% jobless rate.
Unemployment was last this low in December 1969 when it hit 3.5%. At a time when many economists see a tight labor market, big job growth continues as the economic expansion is just a few months away from being the longest in history.
The unemployment rate for Asians fell sharply, plunging from 3.1% to 2.2%. While last month's slump in the jobless rate came with strong increase in hiring, it also was helped along by a sharp decline in the labor force of 490,000.
Earlier this week, the Federal Reserve held the line on its benchmark interest rate, characterizing economic growth as solid even as inflation remains tame.
Fed Chairman Jerome Powell said current indications point to a prolonged period of holding pat on increases or decreases in rates.
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https://ift.tt/eA8V8J Submitted May 03, 2019 at 09:00PM by autotldr http://bit.ly/2PPSXJW
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