US unemployment rate lowest since 1969


The US unemployment rate dropped to its lowest level for more than 49 years in April, according to official figures.

The jobless rate fell from 3.8% to 3.6%, the US Labor Department said, the lowest since December 1969.

However, the fall was due to a large number of people – 490,000 – leaving the labour force during April.

The data also showed that the world’s largest economy added a stronger-than-expected 263,000 jobs during last month.

Wage data showed that average earnings grew at an annual rate of 3.2%.

Analysts said the figures indicated that the economy remained healthy, but was not running at a pace that might cause the US Federal Reserve to alter interest rates.

Hiring gains were seen in nearly all sectors of the economy during April.


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