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8 May 2015
US non-farm payrolls rose 223K in April
FXStreet (Mumbai) - The labor department data in the US released today showed the US economy added 223K jobs in April, which is slightly lower than the consensus estimate of 224K. The previous month’s figure was revised lower to 85K, lowest since June 2012, from 126K reported earlier.
The unemployment rate in April dipped to 5.4% as expected, while the labor force participation rate increased to 62.8% in April from 62.7% in March. Meanwhile, the average hourly earnings rose to 0.1% year-on-year in March, compared to 0.3% growth seen in March. Average hourly earnings rose 2.2% year-on-year in April, compared to 2.1% gains seen in March.
The average work week for all employees held at 34.5 hours. The The jobless rate now stands at the lowest since May 2008 as more Americans entered the labor force and found work. Revisions to prior reports subtracted a total of 39,000 jobs to overall payrolls in the previous two months.
The unemployment rate in April dipped to 5.4% as expected, while the labor force participation rate increased to 62.8% in April from 62.7% in March. Meanwhile, the average hourly earnings rose to 0.1% year-on-year in March, compared to 0.3% growth seen in March. Average hourly earnings rose 2.2% year-on-year in April, compared to 2.1% gains seen in March.
The average work week for all employees held at 34.5 hours. The The jobless rate now stands at the lowest since May 2008 as more Americans entered the labor force and found work. Revisions to prior reports subtracted a total of 39,000 jobs to overall payrolls in the previous two months.