By Carlo Versano

The U.S. economy had another strong employment showing, with April jobs numbers coming in way ahead of estimates. About 263,000 new jobs were added for the month, far exceeding estimates of 190,000. The unemployment rate dipped to 3.6 percent ー the lowest it's been in 50 years.

"It's been a long time since we had this level [of growth] and it's encouraging," said Kathy Entwistle, senior vice president for wealth management at UBS.

A healthy job market means more workers can demand better wages and benefits, thus further boosting the economy. And with inflation stable, according to the Fed's latest readings, and the central bank indicating it didn't plan to raise rates for the remainder of 2019, Friday's data helps ease jitters from last year that the U.S. may be heading toward a recession, Entwistle said.

Like President Trump, Entwistle said an interest rate cut would further strengthen the state of the economy and would produce "more positives than negatives."

However, the report also showed that the new low rate was also due to the approximately 490,000 people leaving the labor force in April.

And another dark spot in the April numbers: the retail sector continues to shed jobs, losing another 12,000 for the month. "There's definitely worry about the retail industry," Entwistle said. But those issues have less to do with fundamental economic problems than continued pressure from automation and e-commerce.

"That's probably a trend we see more of," she said.

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