Employers in the US added 263,000 jobs in April, according to the Bureau of Labor Statistics, beating analyst’s expectations. Some experts see the expansion of the workforce as a sign of strong confidence in the US economy.
Unemployment reached a five-decade low of 3.6%, the lowest unemployment level since 1969. It still remains a job hunter’s market in the US, with more open positions than there are workers available to fill them.
Wages rose, with the average hourly pay rising 0.2 percent for the month, and up 3.2% from the same time a year ago. In the struggle to find workers, many businesses have been forced to raise pay.
The growth the US economy is on track to be the longest in history, if it can maintain pace until July.
Further enhancing the economy, for the third time this year, the Federal Reserve announced earlier this week it would not raise interest rates.
Related: Unemployment at Lowest Since 1969