US NFP: Job creation remained strong in April – UOB
|Senior Economist at UOB Group Alvin Liew reviews the latest Nonfarm Payrolls figures for the month of April (May 6).
Key Takeaways
“The Apr US employment report showed a gain of 428,000 jobs (above 400,000 for the 12th month in a row) while the unemployment rate stayed at 3.6%, unchanged from Mar and a hair’s length from pre-pandemic level of 3.5%.”
“Wage growth continued to rise amidst growing demand and persistent worker shortages but markets were somewhat relieved that the rise was at a slower pace of 0.3% m/m, 5.5% y/y in Apr (easing from 0.5% m/m, 5.6% y/y in Mar) despite hiring challenges.”
“US employment gains in 2022 to date continues to fuel labor market optimism, while persistent wage increases will still put the threat of wage-price spiral in focus amidst on-going inflation worries due to commodity price surges and supply chain disruptions.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.