Unemployment falls to 7.5% as economy adds 165,000 jobs

The U.S. economy beat analysts' expectations in April, with 165,000 new jobs nudging the unemployment rate down to 7.5%, a four-year low. Economists said the figures suggested that short-term fiscal jitters weren't derailing a slow but steady economic recovery. "This number is back to the mainstream of what we’ve seen in this recovery," said Steve Blitz, chief economist at ITG.

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