The U.S. Labor Department released the labour market data on Friday. The U.S. economy added 160,000 jobs in April, missing expectations for a rise of 202,000 jobs, after a gain of 208,000 jobs in March. March’s figure was revised down from a rise of 215,000 jobs.
The increase was driven by rises in professional and business services, health care, and financial activities.
The Professional and business services added 65,000 jobs in April, financial activities added 20,000 jobs, while the manufacturing sector added 4,000 jobs.
Health care added 44,000 in April, while mining sector shed 7,100 jobs.
The U.S. unemployment rate remained unchanged at 5.0% in April, in line with expectations.
Average hourly earnings increased 0.3% in April, in line with forecasts, after a 0.2% rise in March. March’s figure was revised down from a 0.3% increase.
The labour-force participation rate decreased to 62.8% in April from 63.0% in March.
As the U.S. labour market continues to strengthen, the Fed could raise its interest rate gradually this year.
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