Unemployment rate falls in April

The U.S. unemployment rate fell to 6.3 percent in April from 6.7 percent in March as U.S. employers added 288,000 jobs—the most in more than two years, according to The Washington Post. Economists were expecting to add 218,000 jobs.

Analysts view April's unemployment rate as a reassuring sign the economy has gained momentum since slowing during the severe winter months.

Employment gains for February and March were revised up by a total 36,000. February's employment gains were revised to 222,000 from 197,000, and March's employment gains were revised to 203,000 from 192,000.

In April, the professional and business services sector added 75,000 jobs; retail sector added 35,000 jobs; food services and drinking places sector added 33,000 jobs; construction sector added 32,000 jobs; and health care sector added 19,000 jobs. During the past year, construction employment has risen by 189,000.

The manufacturing, government, retail, transportation and warehousing, and financial activities sectors basically were unchanged.

Still, the U.S.' work force decreased by more than 800,000 workers in April, and the labor force participation rate fell 0.4 percentage points to 62.8 percent.

There currently are 9.8 million unemployed people in the U.S.

Date : 5/5/2014