Saturday 7 May 2022

US unemployment flat at 3.6pc

Unemployment flat

The U.S. economy added a solid +428,000 jobs in April, pulled back slightly by net revisions of -39,000 to the February and March totals. 

The net result wasn't a million miles away from market forecasts in the end. 


The unemployment rate was unchanged at 3.6 per cent, a slight miss on expectations. 


And average hourly earnings were 5.5 per cent up from a year earlier, at $31.85, perhaps hinting at a slight easing of inflation pressures. 

Currency markets weren't much moved, and the stock market was a little lower, with some commentators expecting the Federal Reserve to hike by 0.75 percentage points next up.