US employment rose more than expected in April, while the unemployment rate remained steady, government data showed, with the world’s largest economy firming recent labour market gains but analysts warning of underlying weakness.
“Total nonfarm payroll employment edged up by 115,000 in April, and the unemployment rate was unchanged at 4.3 per cent,” the US Bureau of Labour Statistics (BLS) said.
The gains mainly came in the healthcare, transport and warehousing and retail trade sectors.
US job growth has been see-sawing between expansion and contraction for the last year, sparking concerns about the health of the labour market and economic growth more generally.
Nonetheless, the figure is likely to reassure Federal Reserve officials that they can hold interest rates steady for now, as surging energy costs due to the Iran war fan inflation fears.
Friday’s data beat analyst expectations, with economists polled by Dow Jones Newswires and The Wall Street Journal expecting growth of 55,000.
