April Payrolls well above-expected +263k,...>

US DATA: April Payrolls well above-expected +263k, Earnings +0.2%

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- The employment data were very strong, with payrolls well ahead of 

expectations after a net upward revision and earnings growth +0.2%.

- April payrolls +263k, above expected +190k expected by BBG and MNI.

- Hourly earnings +0.2%, below the 0.3% gain expected by both BBG 

and MNI, but following upward revision to +0.2% in March. Y/Y unch 

+3.2%.

- The payrolls gain followed downward rev to March (+189k vs +196k prev), 

but upward for Feb (+56k vs +33k prev) for net rev +16k.

- Private payrolls +236k, with gains in health care and leisure.

- The unemployment rate slipped to 3.6% from 3.8% in March.

- Labor force participation rate -0.2 to 62.8%, as labor force 

fell sharply on both household employed and unemployed. 

- U-6 rate unch at 7.3%.

- The average workweek to fell to 34.4 hours from 34.5 hours in March.