In April, the U.S. economy added 211,000 jobs and the unemployment rate fell to a new post-crisis low of 4.4%. This is the lowest unemployment rate since May 2007.
Wages, which are closely tracked by the Federal Reserve, rose 0.3% month-on-month, as expected. The the annual increase in wages, however, disappointed with wages up just 2.5% over the same month last year. Economists had expected a 2.7% increase in wages over the prior year. Weekly hours worked were steady at 34.4.