share_log

Strong Jobs Growth Shows Economy Is Powering Ahead

Moomoo 24/7 ·  May 5, 2023 08:30  · Headlines

The U.S. created a stronger-than-expected 253,000 new jobs in April, indicating there's still lot of demand for labor even as the economy slows.

The increase surpassed the 180,000 forecast of economists polled by The Wall Street Journal.

The increase in new jobs last month, however, was partly offset by new data showing that hiring was notably slower in March and February than previously reported. The U.S. created a combined 149,000 lower than previously reported.

The unemployment rate, meanwhile, fell a tick to 3.4% from 3.5%, the government said Friday.

Hourly wages rose a sharp 0.4% last month, matching the biggest increase since lasts summer.

Before the report, U.S. stocks were trading higher in paremarket action. Treasury yields rose slightly.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment