US Employers added 263,000 jobs in April, according to the Bureau of Labor Statistics. The new numbers beat the expectations of analysts, showing the expansion of the workforce as a sign of strong employer confidence in the US economy.
Unemployment fell to a five-decade low of 3.6%. America now its the lowest unemployment level since 1969. In the workforce, it remains a job hunter’s market, with more open positions than available workers to fill them.
Wages climbed, as the average hourly pay rose 0.2 percent for the month, increasing 3.2% from the same time last year. As businesses struggle to find workers, many companies have been forced to increase pay.
The current growth in the US economy is on pace to be the longest in history, provided it can remain steady until July.
In a further enhancement to the economy, for the third time this year, the Federal Reserve announced earlier this week that it would not raise interest rates.
