Payrolls Surge In April, Jobless Rate Hits 5½ Year Low

By Lucia Mutikani

WASHINGTON -- U.S. job growth increased at its fastest pace in more than two years in April and the unemployment rate dived to a 5½ year low of 6.3 percent, suggesting a sharp rebound in economic activity early in the second quarter.

Nonfarm payrolls surged 288,000 last month, the Labor Department said Friday. That was the largest gain since January 2012 and beat Wall Street's expectations for only a 210,000 increase.