Sign InU.S. Job Growth Slows, Unemployment at 3.9% in April
Alex Vellor
08:49am, Friday, May 03, 2024
Photo by Clem Onojeghuo on Unsplash
In April, the U.S. job market saw fewer additions than expected, with only 175,000 new jobs compared to the forecasted 238,000. Despite the miss, unemployment slightly increased to 3.9% from 3.8%, maintaining a sub-4% rate for the 27th consecutive month. Wage growth slowed, with average hourly earnings rising just 0.2%, a deceleration from March's 0.3% increase. This mix of data could influence the Federal Reserve's timing on potential interest rate cuts.
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Alex Vellor
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