Looking to the Futures: Equities Rise as Jobs Surprise to the Upside
The U.S. jobs market remains resilient as nonfarm payrolls beat expectations in April.
Last week, the U.S. Labor Department reported that employment rose by 253,000 in April, well above expectations for an increase of 180,000 jobs for the period.
The unemployment rate edged lower by 0.1% last month to 3.4%. The household survey showed the number of unemployed persons at 5.7 million in April, little changed from March.
Private sector jobs rose by 230,000 last month following a gain of 123,000 in March, while public sector jobs were up 23,000 in April after an increase of 42,000 jobs the previous month.
Professional, technical, and scientific services led the hiring last month adding 45,000 jobs. Professional and business services followed with 43,000 jobs added.