USA: job creation well below expectations

(CercleFinance.com) - The US economy generated just 175,000 nonfarm jobs in April, according to the Labor Department, well below market expectations, which averaged around 250,000.


The unemployment rate rose by 0.1 points to 3.9%, where economists had hoped for stability at 3.8%, while the labor force participation rate held steady at 62.7%, and average hourly earnings rose at an annual rate of 3.9%.

In addition, non-farm payrolls for the previous two months were revised, from 270,000 to 236,000 for February and from 303,000 to 315,000 for March, for a total revision balance of -22,000 for these two months.

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