U.S. job growth totaled 175,000 in April, much less than expected, while unemployment rose to 3.9%

The
U.S.
economy
added
fewer
jobs
than
expected
in
April
while
the
unemployment
rate
rose,
reversing
a
trend
of
robust
job
growth
that
had
kept
the
Federal
Reserve
cautious
as
it
looks
for
signals
on
when
it
can
start
cutting
interest
rates.

Nonfarm
payrolls
increased
by
175,000
on
the
month,
below
the
240,000
estimate
from
the
Dow
Jones
consensus.
The
unemployment
rate
ticked
higher
to
3.9%
against
expectations
it
would
hold
steady
at
3.8%.

Average
hourly
earnings
rose
0.2%
from
the
previous
month
and
3.9%
from
a
year
ago,
both
below
consensus
estimates
and
an
encouraging
sign
for
inflation.

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is
breaking
news.
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