WASHINGTON (Reuters) – Employers cut back on hiring in April and the jobless rate fell as people gave up the hunt for work, a somber note on the economy that could hurt President Barack Obama’s re-election chances. Employers added just 115,000 workers to their payrolls last month, the Labor Department said on Friday. It was the third straight month in which hiring slowed, keeping fears alive that the U.S. economy is losing momentum. It also dampens hopes that a stretch of strong winter hiring signaled a turning point for the recovery. …

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