U.S.
Economy Adds 253,000 Jobs in April, Unemployment Rate at 3.4%
According to the Bureau of Labor Statistics monthly jobs report, the U.S.
economy added 253,000 jobs in the month of April, surpassing the 236,000 jobs added in March.
The unemployment rate also decreased to 3.4%.
The job gains were mostly focused on the services sector, including healthcare, hospitality, and social assistance.
However, the pace of job growth is slowing down, which is a concern given the current high levels of inflation.
The report presents a conundrum for the Federal Reserve, which had expected the labor market to cool down by now.
The strong job gains suggest that employers may not be heeding the message from the Federal Reserve.
While the low unemployment rate is good news for college graduates looking for jobs, finding work may still be difficult depending on their major and the timing of their graduation.
