The stronger job growth suggests that the federal budget cutting "does not mean recession," said John Silvia, chief economist at Wells Fargo. "It does not mean a dramatic slowdown."The unemployment rate edged down from 7.6 percent in March and has fallen 0.4 percentage point since the start of the year, though it remains high. To help spur borrowing, the Fed has said it plans to keep its benchmark interest rate at a record low near zero at least until unemployment falls to 6.5 percent.
Solid Job Gains In April Ease Fears About Economy
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