Saturday, May 05, 2018

Wages stagnant in the US

The American economy created fewer jobs than expected in April and wage growth slowed down.

The US Bureau of Labour Statistics reported that there were 168,000 new non-farm payrolls added in the month, below Wall Street expectations of 192,000. The US is estimated to need to create roughly 100,000 jobs a month merely to keep up with the growth of the working-age population.

However, the overall unemployment rate ticked down from 4.1 per cent to just 3.9 per cent, the lowest since December 2000. 

Sectors such as construction, retail, transport and hospitality saw little change in job numbers

Average earnings were up by 2.6 per cent year on year in April, dipping below the 2.7 per cent rate in March.

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