US added 115K jobs in April, beating expectations
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The U.S. economy added 115,000 jobs in April, surpassing economists' expectations of 67,000. The unemployment rate remained steady at 4.3%. Despite rising gas prices, which exceeded $4.50 per gallon, consumer spending has remained strong, indicating economic resilience. Annual inflation rose above 3% in March, driven by increased fuel and food costs. National Economic Council Director Kevin Hassett noted that credit card spending is significantly high, reflecting increased expenditures on gasoline and other goods.
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