Employers added 175,000 jobs in April, marking a slowdown in hiring

Hiring across the U.S. fell in April, a sign the Federal Reserve's efforts to shackle economic growth and curb inflation is chilling the labor market.

Employers added 175,000 jobs last month, while the nation's unemployment rate was little changed at 3.9%, the U.S. Department of Labor said Friday. Consensus forecasts by economists surveyed by FactSet projected payroll gains of roughly 232,000. 

The jobless rate has remained below 4% for 27 consecutive months, the longest such stretch since the 1960s.