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Financial News: U.S. Employment Jumps Much More Than Expected In

U.S. Employment Jumps Much More Than Expected In April

05/03/2019 - 08:42:00 (RTTNews)

(RTTNews) - Employment in the U.S. jumped by much more than expected in the month of April, according to a report released by the Labor Department on Friday, with the unemployment rate dropping to its lowest level in nearly fifty years.

The Labor Department said non-farm payroll employment surged up by 263,000 jobs in April following a downwardly revised increase of 189,000 jobs in March.

Economists had expected employment to climb by 185,000 jobs compared to the addition of 196,000 jobs originally reported for the previous month.

The unemployment rate subsequently fell to 3.6 percent in April from 3.8 percent in March, while economists had expected the rate to remain unchanged.

With the unexpected decrease, the unemployment rate dropped to its lowest level since hitting 3.5 percent in December of 1969.

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