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Non-Farm Payrolls Rise More Than Expected, Up by 165,000 in April; Unemployment Rate Drops to 7.5%

Job creation accelerated in April, with the U.S. economy adding 165,000 new positions and the unemployment rate edging lower amid worries over a spring slowdown.

New figures from the Bureau of Labor Statistics indicated that a light March payrolls report may have been an aberration, as higher taxes and reduced spending due to the fiscal stalemate in Washington failed to deter growth.

The unemployment rate fell to 7.5 percent.

Economists had been estimating tepid payroll growth of just 150,000 for the month.

Source: CNBC

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