The momentum in the U.S. labor market continues.
The unemployment rate fell to 4.5 percent from 4.7 percent the previous month, while average hourly earnings rose by 5 cents to $26.14, following a 7-cent increase in the previous month.
A survey of private-sector payrolls by payrolls processor ADP released Wednesday morning showed the U.S. adding 263,000 private-sector jobs in March, far exceeding expectations.
The strength of the U.S. economy in recent months has helped persuade the Federal Reserve to continue taking its foot off the accelerator by gradually raising interest rates from the ultra-low levels of the recession.
Discussions from inside the central bank show that Fed officials are relatively confident they are nearing their goal of ensuring full employment for the U.S. economy.
Read the whole story in the Washington Post
Categories: National News