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