Trump Celebrates Massive Job Growth, Record Low Unemployment

US jobs report: April continues growth as 263,000 jobs added

Job growth surged in April, unemployment rate falls to 49-year low

Instead, the US economy added a whopping 263,000 jobs last month, blowing by Wall Street's expectations of 185,000 jobs, bringing unemployment to its lowest level since 1969.

The unemployment rate fell to 3.6 percent in April, the lowest rate since December 1969.

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Friday's blockbuster jobs report, which blew past analysts' expectations and saw unemployment drop to a 49-year low, wasn't all good news, some economists said.

The Labor Department also revised job-gain estimates for the previous two months to 189,000 new jobs in March and 56,000 in February, for a total of 16,000 more new jobs than previously estimated.

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Strong results would offer further evidence that a weaker period of hiring earlier this year was just monthly noise and not the start of a downward trend. Ambulatory care including outpatient medical services, hospitals, and nursing and residential care facilities accounted for more than 50,000 of that gain. Average hourly earnings - which investors were closely watching for signs of inflation - rose by 6 cents to $27.77.

Retail trade employment shed 12,000 jobs following a loss of 15,000 jobs in March.

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