US economic slowdown hits hiring in April

The overall US unemployment rate held at 5.0 percent in April, according to the Labor DepartmentNet new jobs fell unexpectedly to the lowest level in seven months, with just 160,000 additional jobs generated, over 40,000 less than economists predicted, the Labor Department reported Friday. The data suggested that gains from the prior two months, especially indications that the jobs market was absorbing a large number of long-time dropouts, were possibly overstated.

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