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U.S. adds 160,000 jobs in April, unemployment holds at 5 percent

U.S. employers added 160,000 jobs in April — fewer than expected — the Labor Department reported Friday. Economists had forecast a gain of 200,000 jobs. Analysts interpreted the number, the lowest in seven months, as an indication that slow first-quarter economic growth had sapped momentum from the nation's hiring binge. March's gains were revised down to 208,000 from 215,000 new non-farm jobs. The unemployment rate remained at 5 percent due to people dropping out of the labor force. Hourly wages rose by 0.3 percent, a bright spot in the report.