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U.S. Economy Adds 164,000 Jobs, Missing Estimates for Second Month

May 4, 2018

Via: TheStreet
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The U.S. economy added 164,000 jobs in April, missing expectations, though the unemployment rate fell to a lower-than-expected 3.9%, the Labor Department said Friday.

The job gains fell short of economists’ estimates of a 192,000 increase in non-farm payrolls, while marking a pickup from March’s increase of 103,000, the Bureau of Labor Statistics report showed. The unemployment rate fell to a 17-year low of 3.9%, below the 4.1% rate where it had stood for six straight months. Economists had predicted that the rate would fall to 4%.

Average hourly earnings climbed 2.6% over the past year, a slowdown from March’s pace of 2.7%.

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