US Beats Estimates By Adding 253,000 New Jobs In April
The US economy added 253,000 new jobs in the month of April, beating economists' expectations of 180,000 new jobs, according to data from the Bureau of Labor Statistics. The unemployment rate also decreased from 3.5% to 3.4%, indicating a strengthening job market. The increase in employment was spread across various industries, including healthcare, professional and business services, and construction.
In addition, the average hourly earnings of workers increased, suggesting that the labor demand remained strong despite the perceived sluggishness of the economy. The significant increase in salaries could also have a positive impact on consumer spending, which drives the majority of the US economy.
Overall, the report provides some positive news for the US economy, which has been hit hard by the COVID-19 pandemic. The employment gains and decreased unemployment rate could signal a rebound in economic activity and a positive outlook for job seekers.
