The American economy smashed expectations in April; adding over 263,000 new jobs that sent the unemployment rate down to just 3.6% -the lowest level on record since December 1969.
“The U.S. jobs machine kept humming along in April, adding a robust 263,000 new hires while the unemployment rate fell to 3.6%, the lowest in a generation, according to a Labor Department report Friday,” reports CNBC.
“Unemployment was last this low in December 1969 when it hit 3.5%. At a time when many economists see a tight labor market, big job growth continues as the economic expansion is just a few months away from being the longest in history,” adds the author.
The strong data comes as over a dozen Democratic presidential candidates continue to slam the US economy; saying capitalism “has failed” for many Americans and pledging to repeal President Trump’s tax cuts should they take the White House.
Read the full report at CNBC.