U.S. unexpectedly added 253K jobs in April

Economists were April to become the third straight month that jobs declined in the U.S. Instead, the economy added 253,000 jobs, lowering the unemployment rate to 3.4 percent from 3.5 percent in March. “Payrolls came in better than expected, the unemployment rate fell, and wage growth reaccelerated; all of these data points show that the labor market remains on somewhat solid footing,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.