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US adds 263K jobs, smashing estimates; unemployment rate falls to lowest since 1969

The U.S. economy continued full steam ahead in April, adding a robust 263,000 new hires while the unemployment rate fell to 3.6%, the lowest in a generation, the Labor Department said Friday.

The jobs growth number easily beat Wall Street expectations of 190,000. The unemployment rate also bested a 3.8% expectation.

Report highlights:

  • Lowest overall unemployment rate since 1969
  • Lowest ever unemployment rate for Hispanics
  • Lowest unemployment rate for women since 1953
  • Lowest unemployment rate for workers without bachelor’s degrees in 19 years
  • Average hourly earnings hit $27.77
  • Average work week dropped to 34.4 hours

? The American economy is booming, and showing no sign of slowing down.