PiCK
US April Nonfarm Payrolls Rise 115,000, Far Exceeding Forecast
JOON HYOUNG LEE
Summary
- The U.S. Department of Labor said April nonfarm payrolls increased by 115,000 from the previous month, exceeding the market forecast by 50,000.
- The April unemployment rate was 4.3%, matching economists' forecasts and the March reading.
- April average hourly earnings rose 3.6% from a year earlier and 0.2% from the previous month, both below forecasts.
Forecast Trend Report by Period
U.S. employment growth in April came in well above market expectations.
The U.S. Department of Labor said on May 8 that nonfarm payrolls increased by 115,000 from the previous month. That was 50,000 above the market forecast of 65,000. It was also 70,000 below the revised March increase of 185,000.
The unemployment rate was 4.3% in April, matching economists' forecasts. The reading was unchanged from March.
Average hourly earnings rose 3.6% from a year earlier in April, below the 3.8% forecast by 0.2 percentage point.
On a monthly basis, average hourly earnings increased 0.2%, undershooting the 0.3% forecast by 0.1 percentage point. Average hourly earnings are a gauge of wage inflation.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul