US economy adds 164,000 jobs in April

US economy adds 164,000 jobs in April

US jobs growth was slower than expected in April, as employers added 164,000 positions.

The unemployment rate nevertheless fell to 3.9%, the first time it has dipped below 4% since 2000.

The average hourly pay of private sector workers increased 2.6% year-on-year to $26.84 (£19.77).

Manufacturers and the professional and business services sector helped to drive April’s job gains.

The US has added an average of roughly 190,000 jobs per month over the past year and about 208,000 per month in the past three months.

Surveys of economists had predicted a gain of about 190,000 jobs in April.

The 3.9% unemployment rate follows six months at 4.1%, but analysts cautioned that the fall was partly due to a decline in the number of people looking for work.

Economists also said the wage growth over the month was weaker than expected.

Source: BBC News

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