WASHINGTON (AP) – America’s employers added 428,000 jobs in April, extending a streak of solid hiring.
That streak defies punishing inflation, chronic supply shortages, the Russian war against Ukraine, and much higher borrowing costs.
Friday’s jobs report from the Labor Department showed that last month’s hiring kept the unemployment rate at 3.6%, just above the lowest level in a half-century.
The economy’s hiring gains have been remarkably consistent in the face of the worst inflation in four decades.
Employers have added at least 400,000 jobs for 12 straight months. Yet it’s unclear how long the jobs boom will continue.