U.S. economy adds a better-than-expected 263,000 jobs in April; jobless rate dips to its lowest level since 1969

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U.S. economy adds a better-than-expected 263,000 jobs in April; jobless rate dips to its lowest level since 1969
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The growth suggests that businesses have shrugged off earlier concerns that the economy might slow this year and anticipate strong customer demand.

A hiring sign is posted at a Domino's Pizza outlet in Jersey City, N.J., on April 14.

Many businesses say they are struggling to find workers. Some have taken a range of steps to fill jobs, including training more entry-level workers, loosening educational requirements and raising pay. The government reported that the U.S. economy grew at a 3.2% annual rate in the January-March period — the strongest pace for a first quarter since 2015. That said, the growth was led mostly by factors that could prove temporary — a restocking of inventories in warehouses and on store shelves and a narrowing of the U.S. trade deficit. By contrast, consumer spending and business investment, which more closely reflect the economy's underlying strength, were relatively weak.

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