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.
April U.S. payrolls rose by 428k, matching the revised March pace and more than the 380k expected by analysts as employers rushed to fill historically high levels of open positions, the Bureau of Labor Statistics said Friday. The unemployment rate was flat at 3.6%, close to pre-pandemic lows.
The participation rate fell back by two-tenths to 62.2%, while the employment-population ratio edged down a tenth to 60.0%. Both are 1.2pp below their pre-pandemic value, the BLS said. The household survey employment measure was -353k in April, breaking a twenty-three month straight increase.
Gains were widespread, with leisure and hospitality, restaurants and hotels leading the hiring surge. Sectors more affected by the pandemic saw outsize gains as restrictions eased further in the spring. Leisure and hospitality rose by 78,000, restaurants by 44,000 and accommodation by 22,000.
Average hourly earnings slowed a tad to 0.3% mom but remained solid, and 5.5% over the year, continuing the strong pace seen in the recent Employment Cost Index for Q1.
Source: BLS
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.