The unemployment rate in April edged down to its lowest level in nearly 18 years as U.S. employers generated 164,000 new jobs, according to a report published Friday by the Bureau of Labor Statistics.

At 3.9 percent, the unemployment rate is now as low as it's been since December 2000, having slipped from 4.1 percent, where it sat for six consecutive months. Average hourly earnings, meanwhile, ticked up to $26.84 – a gain of 2.6 percent over the year.

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