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Indebta > News > US labour market undershoots forecasts with 175,000 new jobs
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US labour market undershoots forecasts with 175,000 new jobs

News Room
Last updated: 2024/05/03 at 8:56 AM
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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

The US added 175,000 jobs in April, well below expectations, in a sign that the labour market in the world’s largest economy is cooling down.

The non-farm payrolls figure for last month compared with forecasts of a 241,000 rise in a Bloomberg poll.

The March number was revised up to 315,000, the Bureau of Labor Statistics said on Friday.

US unemployment rose slightly to 3.9 per cent, compared with estimates of 3.8 per cent.

The release comes after the Federal Reserve signalled on Wednesday that interest rates were set to remain at a 23-year high of 5.25-5.5 per cent for even longer than anticipated, as it wrestles with persistent inflation.

This is a developing story

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News Room May 3, 2024 May 3, 2024
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