Rebound of US Job Growth Rate, Unemployment Rate Stumbles to 4.4%

  • As per reports, the US unemployment rate has hit a 10 year low at 4.4% this April pointing towards a tightening of labor market. A surge of 211,000 jobs was reported last month following the increase of 79,000 jobs in March. The broad based growth rate of April surpassed the monthly average of 185,000 jobs.

    Large increase in jobs was reported in sectors such as hospitality, healthcare, social assistance along with business and professional services.

    Dropping the jobless rate by one tenth of a percentage point brought it to its lowest since May, 2007.