US economy posts second straight month of strong job gains, but strains remain
Key takeaways
- Despite the second straight month of strong job growth reported by the Labor Department on Friday, strains remained and economists warned the labor market was not out of the woods yet.
- The number of people working part-time for economic reasons increased by the most in 14 months and there were also more multiple job holders.
- The jobless rate is calculated from the household survey.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize US employment increased more than expected in April, pointing to labor market stability and reinforcing expectations the Federal Reserve would keep interest rates unchanged for some time as the war with Iran fans inflation.
Despite the second straight month of strong job growth reported by the Labor Department on Friday, strains remained and economists warned the labor market was not out of the woods yet.
The number of people working part-time for economic reasons increased by the most in 14 months and there were also more multiple job holders. Household employment decreased for a fourth consecutive month, but was offset by a continued contraction in the labor force, keeping the unemployment rate unchanged at 4.3% after rounding.