(Patricia Cohen – New York Times)
Job growth recovered in April, according to data released on Friday by the Labor Department, providing a reassuring economic snapshot after weak numbers in March.
211,000 jobs were added last month. The consensus forecast among analysts was that payrolls would increase by about 190,000. The unemployment rate was 4.4 percent, down from 4.5 percent in March and the lowest rate in more than 10 years. Average hourly wage grew by 0.3 percent.
Coming less than 48 hours after a meeting of the Federal Reserve in Washington, and six weeks before the next one, the April jobs report may have little immediate effect on economic policy. Fed policy makers made clear — with a unanimously endorsed statement — that the sluggish growth in the first quarter and even the anemic hiring in March had not undermined their confident economic outlook. They signaled a rate increase was still on next month’s playlist. Click here to read more.