US jobs market shows weakness in April
6 May 2016
- From the section Business
The US economy added 160,000 jobs in April – undershooting expectations and well below the 208,000 created in March, official figures show.
March’s figure was itself revised down from 215,000 and February’s was also revised from 242,000 down to 233,000.
April’s report is being closely watched, as it could influence an upcoming interest rate decision by the US Federal Reserve.
The strongest jobs growth was in business services and healthcare.
The unemployment rate remained at 5% and average hourly earnings rose at annual rate of 2.5%.
The number of jobs created in April was below the average of 200,000 for the past three months and the lowest for seven months.
It may indicate some weakening of the US economy, which is growing at a sluggish annualised rate of 1%.
Source: BBC Business