The lower unemployment reading was due in part to a factor economists don't always see as a healthy sign: The share of working-age people in the labor force decreased to 62.8 percent from 63 percent. (Photo: Shutterstock)
The U.S. economy accelerated its rebound from a recent soft patch as unemployment unexpectedly fell to a fresh 49-year low amid surprisingly strong hiring and cooler-than-projected wage gains, suggesting the hot labor market can extend its run.
Payrolls climbed by 263,000 in April after a downwardly revised 189,000 advance the prior month, according to a Labor Department report Friday that exceeded all estimates in a Bloomberg survey. The jobless rate unexpectedly fell to 3.6 percent while average hourly earnings growth was unchanged at 3.2 percent, below projections.
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