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April jobs report: Unemployment rate falls, but for the wrong reasons
New York (CNNMoney) – The jobs recovery is chugging along, but the labor market remains far from fully healed from the crisis.
The U.S. economy added 288,000 jobs in April, the strongest month for job growth in two years, the Department of Labor said Friday. That number blew away economists' forecasts, and stocks rose following the news, although they have since fallen back.
The oft-quoted unemployment rate fell to 6.3%, down from 6.7% in March.
The severe winter had been holding back many economic statistics, as snowstorms slowed the housing market, retail sales and manufacturing. On Friday, the jobs numbers were revised higher for both February and March, showing the economy is over that winter lull.
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