Hiring strengthened in April, showing the job market is resilient amid banking turmoil, rising interest rates and high inflation.

Employers added 253,000 jobs in April, the best gain since January, the Labor Department said Friday. The jobless rate fell to 3.4% last month, matching the lowest reading since 1969.

A historically low unemployment rate kept pressure on wages, which grew 4.4% in April from a year earlier. That was slightly higher than a 4.3% annual increase in March.

Last month’s job growth suggests the labor market remains a pillar of strength in a cooling economy. The economy grew more slowly to start the year versus the end of 2022 as businesses cut back on investments, while the housing market remained weak. Many economists forecast the U.S. to slip into recession in the next 12 months.... Read More: WSJ