The April jobs report topped economists' expectations by a wide margin and the unemployment rate ticked down to remain at 50-year lows, complicating the Federal Reserve's mission to rein in inflation.
Total nonfarm payroll employment rose by 253,000 in April, the Bureau of Labor Statistics said Friday, well ahead of economists' forecast for the addition of 185,000 new jobs. The unemployment rate, which is derived from a separate survey, slipped to 3.4% from 3.5% in March, remaining at levels not seen in half a century. Economists expected the unemployment rate to rise to 3.6%.
