US Non-Farm Payroll employment grew 175k in April, well below expectation of 243k. It’s also way lower than the average gain of 242k in the prior 12 months.
Unemployment rate rose from 3.8% to 3.9%, above expectation of 3.8%. Labor force participation rate was unchanged at 62.7%.
Average hourly earnings rose 0.2% mom, 3.9% yoy, below expectation of 0.3% mom, 4.0% yoy.
