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Unemployment Falls to 3.4%, Lowest in 53 Years, Jobs Report Shows
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U.S. job growth accelerated at the start of the year as employers added a robust 517,000 jobs and pushed the unemployment rate to a 53-year low.
The unexpectedly strong hiring gains raise questions about whether the economy, which had been losing momentum over the past several months, is starting to pick up steam again. If so, that could prompt a more aggressive response by the Federal Reserve as it raises interest rates in an attempt to temper economic growth and bring down inflation.
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