U.S. Unemployment rate 3.4%, Non-farm payrolls added 253k jobs

By MG News | May 05, 2023 at 05:33 PM GMT+05:00

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May 05, 2023 (MLN): The U.S. unemployment rate for the month of April stood at 3.4%, while non-farm payrolls (NFP) added 253k jobs for the said month.

The unemployment rate fell by 0.1% MoM as compared to 3.5% in the previous month, and beat market analysts' expectations of 3.6%.

Notably, the unemployment rate is at its lowest level since January of this year.

Meanwhile, NFP, which shows the number of jobs created in the U.S. excluding farm workers, added 73k more jobs than the market analysts' expectations of 180k jobs.

NFP is a key indicator of the U.S. labor market performance.

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