Job growth totals 253,000 in April, beating expectations even as the U.S. economy slows

Nonfarm payrolls increased 253,000 for the month, beating Wall Street estimates for growth of 180,000, according to the Bureau of Labor Statistics . Job growth fared better than expected in April despite bank turmoil and a decelerating economy, the Labor Department reported Friday. The unemployment rate was 3.4% against an estimate for 3.6% and tied for the lowest level since 1969. Also, the household survey, which is used to calculate the unemployment rate, showed a softer total jobs gain of 139,000. The unemployment rate tied a record low going back to May 1969.