Home World Business US jobs growth rebounds in April

US jobs growth rebounds in April

US flagImage copyright Getty Images

US jobs growth staged a bigger recovery than expected in April as businesses added 211,000 posts.

Figures from the US Department of Labour also showed the unemployment rate dropped slightly to 4.4%, compared with 4.5% in March.

The rebound in the jobs market could pave the way for the US central bank to raise interest rates in June.

The economy needs to create 75,000 to 100,000 jobs a month to keep pace with growth in the working-age population.

An unemployment rate of anything under 5% is considered to indicate full employment.

Employment rose in the leisure and hospitality sectors, health care and social assistance, financial activities and mining.

The figures represented a strong bounce-back following the disappointing figures recorded in March, said Kully Samra, UK managing director at Charles Schwab.

“With the Fed hitting the pause button in May, the recovery in today’s employment data gives weight to the prospect of a further rate hike in June and the possibility of two or three more this year,” he added.


Please enter your comment!
Please enter your name here