Job growth totals 253,000 in April, beating expectations even as the U.S. economy slows [View all]

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Last edited Fri May 5, 2023, 09:56 AM - Edit history (1)

Source: CNBC

Job growth fared better than expected in April despite bank turmoil and a decelerating economy, the Labor Department reported Friday.

Nonfarm payrolls increased 253,000 for the month, beating Wall Street estimates for growth of 180,000, according to the Bureau of Labor Statistics.

The unemployment rate was 3.4% against an estimate for 3.6% and tied for the lowest level since 1969. A more encompassing number that includes discouraged workers and those holding part-time jobs for economic reasons edged lower to 6.6%.

Average hourly earnings, a key inflation barometer, rose 0.5% for the month, more than the 0.3% estimate and the biggest monthly gain in a year. On an annual basis, wages increased 4.4%, higher than the expectation for a 4.2% gain. Both numbers raise the chances that the Federal Reserve could decide to raise interest rates again in June, though markets were only pricing in a small probability following the jobs report.

Read more: https://www.cnbc.com/2023/05/05/jobs-report-april-2023-job-growth-totals-25300-in-april.html

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Payroll employment rises by 253,000 in April; unemployment rate changes little at 3.4% https://bls.gov/news.release/empsit.nr0.htm
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8:30 AM · May 5, 2023

LOL (big swing and a miss compared to expectations )

Good Friday morning and please stay tuned for DU's economy watchers and their deep dives into the data.

Article updated.

Previous articles -

Job growth fared better than expected in April despite bank turmoil and a decelerating economy, the Labor Department reported Friday.

Nonfarm payrolls increased 253,000 for the month, beating Wall Street estimates for growth of 180,000, according to the Bureau of Labor Statistics.

The unemployment rate was 3.4% against an estimate for 3.6% and tied for the lowest level since 1969. A more encompassing number that includes discouraged workers and those holding part-time jobs for economic reasons edged lower to 6.6%.

Average hourly earnings, a key inflation barometer, rose 0.5% for the month, more than the 0.3% estimate. On an annual basis, wages increased 4.4%, higher than the expectation for a 4.2% gain.

Job growth fared better than expected in April despite bank turmoil and a decelerating economy, the Labor Department reported Friday.

Nonfarm payrolls increased 253,000 for the month, beating Wall Street estimates for growth of 180,000, according to the Bureau of Labor Statistics.

The unemployment rate was 3.4% against an estimate for 3.6% and tied for the lowest level since 1969.

Average hourly earnings, a key inflation barometer, rose 0.5% for the month, more than the 0.3% estimate. On an annual basis, wages increased 4.4%, higher than the expectation for a 4.2% gain.


This is breaking news. Please check back here for updates.

Original article -

Nonfarm payrolls were expected to increase by 180,000 in April, according to Dow Jones.

This is breaking news. Please check back here for updates.