US Employment, Better Than Expected… 177,000 New Jobs In April

Steady American Labor Market (Source: Reuters)

The American employment market continued a stronger-than-expected trend. On the 2nd (local time), the U.S. Department of Labor announced that new employment in the non-agricultural sector increased by 177,000 people in April. This is a figure that significantly exceeds the market expectation of 138,000.

The unemployment rate remained at 4.2%, consistent with market forecasts. Contrary to the recent atmosphere where concerns about labor market slowdown were growing, employment indicators have shown an unexpected good performance.

This employment surprise may further increase uncertainty about the Federal Reserve's interest rate policy. Experts evaluated that "Employment figures may put a brake on the possibility of an early rate cut by the Fed" and "As inflationary pressure remains and employment shows strength again, monetary policy decisions will be more cautious."