Washington More jobs were created on the US labor market in April than expected. Last month, 428,000 new jobs were created, as the government announced in Washington on Friday. Economists polled by Reuters had only expected 391,000.
The separately calculated unemployment rate remained in April at the previous month’s value of 3.6 percent – a level that should correspond to the full employment target of the central bank Fed.
“The job engine in the USA is running and running. Since the beginning of 2021, the strong increase in employment has continued seamlessly. The labor shortage is still great,” says economist Bastian Hepperle from the private bank Hauck Aufhäuser Lampe.
In view of the good situation on the labor market and the very high inflation at the same time, the Fed recently carried out the largest interest rate hike in 22 years. Fed Chair Jerome Powell then admitted that the high price increases were eating away at wages. These rose more than they had in years. It is therefore important to fight inflation in order to keep the labor market strong.
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Hourly wages rose by 5.5 percent in April compared to the same month last year and thus not quite as much as in March with 5.6 percent at the time.
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