Economic Report: U.S. creates 263,000 jobs in April as unemployment falls to 49-year low

The numbers: The U.S. created 263,000 new jobs in April to help drive the unemployment rate down to a 49-year low, the latest cue pointing to a rebound in the economy after a slow start in the new year.

The increase in hiring was concentrated at white-collar businesses, construction and health care. The only sector to suffer a big drawback was retail, whose employment fell for the third straight month.

The increase in new jobs easily topped the 213,000 forecast of economists surveyed by MarketWatch.

The unemployment rate, meanwhile, slipped to 3.6% from 3.8% in March, marking the lowest level since December 1969, the Labor Department said.

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