US created 223,000 jobs in Apr vs. 224,000 expected;
unemployment rate at 5.4%
The U.S. economy created 223,000 jobs
in April, bouncing back from a sluggish period the first three months of the
year, as companies shook off the effects of a surging U.S. dollar and falling
profits. The unemployment rate fell to a seven-year low of 5.4 percent, the Labor Department said
Friday.
Economists expected nonfarm payrolls
to rise 224,000 in April, with the unemployment rate dropping to 5.4 percent
from 5.5 percent in March. It was the lowest number since lowest since May
2008.
Investors cheered the renewed
strength in the economy, pushing S&P 500 futures higher by about 1 percent.
The report was seen as a so-called Goldilocks scenario, showing a rebound, but
not strong enough to rush the Federal Reserve to raise interest rates.
Government bond yields, which had been rising, fell after the number was
released.
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