US CPI rose 3.35% in the year to April, as expected by analysts. Meanwhile, core CPI, which strips out prices of food and energy, increased 3.61%, also as market 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. Meanwhile, US unemployment rebounded to 3.9%
The March US job opening and labor turnover (JOLT) report shows that job opening rate, hire rate and quit rate all dropped marginally in March, showing further cool down in the US labor market.