Jobs make a comeback, unemployment rate drops to the lowest in a decade
The US economy added 211,000 jobs in April, rebounding after an unexpectedly weak month, according to the Bureau of Labor Statistics.
Economists had forecast that nonfarm payrolls rose by 190,000 last month, according to Bloomberg. The gains in March were revised down by 19,000 jobs to 79,000.
The unemployment rate fell to a new postrecession low of 4.4%, indicating that the economy was even closer to full employment — a situation in which most people who looked for a job found one.
After two months of declines, the retail sector added 6,300 jobs. But the losses may not be over, as roughly 3,500 stores are expected to close over the next few months with retail giants like Macy's and JCPenney shuttering locations.