US job growth beats expectations in April, unemployment fell ‎to 3.4%‎

American employers hired more in April and raised wages, which indicates the continued strength of the labor market, which may push the Federal Reserve (the US central bank) to keep interest rates high for a longer period.

According to Reuters, the employment report issued by the US Department of Labor today, Friday, showed an increase in non-agricultural jobs by 253,000 jobs last month. March data was revised downward to show an increase of 165,000 jobs instead of 236,000 in the report issued earlier.

Economists polled by Reuters expected job growth of 180,000

The unemployment rate fell to 3.4 percent from 3.5 percent in March

Average hourly earnings increased 0.5 percent, after increasing 0.3 percent in March. Wages increased 4.4 percent year-on-year in April, after rising 4.3 percent in March.