US April Jobs Report – Unemployment rate rises back to 3.9% as Nonfarm Payroll increase lower than expected

Nonfarm payroll increased 175,000 in April, a significant reduction from 315,000 in March and fell short of the market expectation of 243,000.

• this is the smallest number of jobs gain since October.

Unemployment rate: 3.9% (March:3.8%)

Labor force participation rate: 62.7% (March:62.7%);

• Prime-age participation rate was 83.5% (March:83.4%)

Average hourly earnings growth YoY: 3.92% (March:4.11%) ; MoM: 0.20% (March:0.3%)

• Annualized three-month hourly earnings growth: 2.81% (March:4.02%)