US unemployment rate at 49-year low

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The US unemployment rate dropped to its lowest level for more than 49 years in April, according to official figures.

The jobless rate fell from 3.8% to 3.6%, the US Labor Department said, the lowest rate since December 1969.

The data also showed that the world’s largest economy added a stronger-than-expected 263,000 jobs last month, with hiring gains seen in nearly all sectors.

Wage data showed that average earnings grew at an annual rate of 3.2%.

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