The U.S. economy added 253,000 jobs to the rolls last month, defying predictions from pundits, experts and the assorted other media bullshitters who know they'll be right periodically if they just keep saying the same things. Fox Business:
The labor market remained surprisingly resilient even in the face of rising interest rates, declining economic growth and bank turmoil. Employers added 253,000 jobs in April, the Labor Department said in its monthly payroll report released Friday, easily beating the 180,000 jobs forecast by Refinitiv economists. The unemployment rate ticked lower to 3.4%, a historically low level, as more workers left the labor force. Job gains were broad-based last month, with the biggest gains in professional and business services (43,000), health care (40,000) and leisure and hospitality (31,000)
US jobs growth was stronger than expected in April, providing a reminder of the resilience of the US economy even as the Federal Reserve signalled it was "getting close" to pausing its cycle of interest rate hikes. … The unemployment rate was also lower than expected at 3.4 per cent, compared to consensus forecasts of 3.6 per cent. Hourly wage growth strengthened to 0.5 per cent month-on-month. On a year-over-year basis, wages climbed 4.4 per cent.
