U.S. Adds 223,000 Jobs in April; Unemployment Rate Dips to 5.4%

Washington Post: “The U.S. economy added a solid 223,000 jobs in April, offering a first sign about the direction of the economy following a slowdown in the first part of the year. The unemployment rate fell to 5.4 percent.”

“Economists had projected the U.S. to have added 230,000 jobs, with the unemployment rate falling to 5.4 percent.”

Wall Street Journal: “Severely cold weather, a stronger dollar and a labor dispute that clogged the flow of goods at West Coast ports all likely held back growth and hiring in the first three months of the year. Gross domestic product grew at just a 0.2% annual rate from January through March.”

“Friday’s reported hinted at momentum. Workers’ hourly wages grew 3 cents to $24.87 and were up 2.2% from a year earlier. That growth is still modest, but it comes after amid other signs wages are slowly picking up from the weak 2% annual pace of recent years.”

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