US job growth slows in April; unemployment rate rises to 3.9pc

Washington DC | US job growth slowed more than expected in April and annual wage gains cooled, but it is probably too early to expect that the Federal Reserve will start cutting interest rates before September as the labour market remains fairly tight.

Nonfarm payrolls increased by 175,000 jobs last month, the Labour Department’s Bureau of Statistics said in its closely watched employment report on Friday. Data for March was revised up to show payrolls rising by 315,000 jobs instead of 303,000 as previously reported.

Reuters