The report released by the US Bureau of Labor Statistics just moments ago showed that the US economy added 177,000 jobs in April, compared to 185,000 in March, which was revised down from 228,000. This was better than market expectations of 137,000 jobs added.
Conversely, the unemployment rate remained at 4.2% in April, matching expectations, while the labor force participation rate rose to 62.6% from 62.5% in March.
Hourly wages slowed in March to 0.3% on a monthly basis, compared to 0.3% in March, below expectations. On an annual basis, they remained at 3.8%, the same as March, while expectations were for 4% growth. In terms of sectoral details, the goods production sector added approximately 11,000 jobs, the construction sector added 11,000 jobs, the transportation and storage sector added 29,000 jobs, and the services sector added approximately 156,000 jobs. Meanwhile, the manufacturing sector lost approximately 1,000 jobs in April.