The US Labor Department reported on Friday an increase in jobs by 253,000 in April. Economists predicted 180,000 jobs, so the new job report was a positive surprise. Forbes reported, "The unemployment rate, meanwhile, ticked down to 3.4% from 3.5% in March—matching a 54-year low hit in January and defying projections it would tick up to 3.6%.
Wage growth also came in stronger than forecast, coming in at 4.4% year over year, versus projections of 4.2%, as hourly earnings rose 16 cents to $33.36."

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