Unemployment Falls To 6.3 Percent; 288,000 Jobs Added In April

Credit: AP

The unemployment rate has fallen to the lowest percentage in more than five years, the Department of Labor announced Friday.

Unemployment fell from 6.7 percent in March to 6.3 percent in April. The U.S. economy gained 288,000 jobs, which the Labor Department says were gained across several fields, including professional and business services, retail and construction.

The figures were a mixed bag: on the one hand, the unemployment figure fell in part because the number of people seeking work also fell. Those not seeking work are not counted as unemployed.

But the number of jobs added in April was significantly higher than expected, and the largest number in two years--a sign that job creation is accelerating. It was also a positive indicator that the economy is recovering from a brutal winter, which had slowed growth over the last few months.