Economic Buzz: US Employment Rises More Than Expected

9 May 2022 , 09:25 AM

Employment in the US increased by more than expected in the month of April, according to a closely watched report released by the Labor Department. The report showed non-farm payroll employment surged by 428,000 jobs in April, matching the revised jump seen in March. The Labor Department described the job growth as widespread, led by gains in the leisure and hospitality, manufacturing, and transportation and warehousing sectors. Meanwhile, report showed the unemployment rate came in unchanged at 3.6 percent versus expectations the rate would edge down to 3.5 percent. The report also showed average hourly earnings rose by $0.10 or 0.3 percent to $31.85 in April. The annual rate of wage edged down to 5.5 percent in April from 5.6 percent in March. Powered by Commodity Insights