Employers added jobs in April, as strong labor market fuels economy

Employers added 175,000 jobs in April, signaling slower but steady growth compared to earlier this year, as higher interest rates ripple through the economy.

The unemployment rate ticked up to 3.9 percent, the Labor Department reported Friday.

That marks the 27th consecutive month that the unemployment rate was below 4 percent. This was last recorded during a low-unemployment period between 1967 and 1970, and again for a longer period between 1951 and 1953.