50k Jobs Added, Unemployment Falls

In today’s employment situation report released by the Bureau of Labor Statistics, the American economy was reported to have added 50 thousand non-farm payroll jobs, and the unemployment rate dropped by a tenth of a percentage point to 4.4%.

Economists were expecting to see closer to 70 thousand jobs added and no decrease in unemployment. The report also showed a higher-than-expected increase in average hourly earnings, which grew by 3.8% year-over-year.

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