According to the report of the US Department of Labor, the US economy added 223,000 jobs in the previous month. However, the survey from one of the leading financial news agencies revealed that experts had projected 228,000 new jobs.
The difference totaled 39,000 jobs allowing for 85,000 increase in March, which was revised down from 126,000 reported earlier.
As anticipated, the jobless rate in the United States fell to 5.40% in April from 5.50% in March. It is the lowest level since May 2008.
The US average hourly earnings increased by 0.1% over the previous month compared to readings in March against the consensus on a rise of 0.2%. Average hourly earnings gained 2,2% on the yearly basis instead of 2,3% that analysts had forecasted.
“It is a respectable bounce — anything 200,000 or higher is going to lead to further diminishment of slack in the labor market,” Kathy Bostjancic, a US financial economist at Oxford Economics USA Inc. in New York, said.
