Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
U.S. employers added 253,000 jobs in April, higher than analysts expected, as the unemployment rate sank to 3.4% again and wage growth picked up. Wall Street had forecast payrolls growth of 185,000, a jobless rate of 3.6% and average hourly earnings of 0.3%. AHE grew 0.5% last month, bringing the year-on-year rate a tenth higher to 4.4%.
Treasury yields fell and the U.S. dollar rallied on the data. Futures markets still expected to the Fed to hold rates steady at its June meeting.
April payrolls growth slowed from its average monthly gain of 290,000 over the past six months and employment in February and March were revised down by a combined 149,000. Hiring was led by professional and business services (+43k), health care (+40k) and leisure and hospitality (+31k) sectors.
As measured by the household survey, employment rose a slightly lower 139,000 last month. Both the labor force participation rate (62.6%) and the employment-population ratio (60.4%) were unchanged in April and remain below their pre-pandemic levels.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.