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The job market staged an impressive rebound in April, adding 211,000 jobs, according to a Friday report from the Bureau of Labor Statistics, eclipsing estimates of 190,000.

That's a stark difference from March's report, which was sharply lower thanks to inclement weather. The economy initially added 98,000 jobs in March, but that figure was revised even lower on Friday, to a gain of only 79,000 payrolls. 

The unemployment rate dropped slightly to 4.4% - the lowest level in roughly ten years. The U6 unemployment rate, which includes those who have given up looking for work, stood at 8.6%, compared to 8.9% in March.

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"These are both good numbers and help us to see that economic growth in the U.S. should continue," said Tracie McMillion, head of global asset allocation strategy at Wells Fargo Investment Institute. 

She said the better-than-expected jobs report makes it likely that the Federal Reserve will initiate its next rate increase at its June policy meeting. The Fed last raised interest rates in March. 

Average hourly earnings rose 2.5% year-over-year as of April, compared to 2.7% as of March. 

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