US jobs fall short of expectations at 175,000 but risk of recession reduces

Unemployment steady at 3.9%

The US economy added 175,000 jobs in April, significantly lower than the 243,000 expected by markets and 315,000 added in March.

According to data from the Bureau of Labor Statistics today (3 May), job gains were mainly registered in healthcare, social assistance, transportation and warehousing. The unemployment rate remained steady at 3.9%, slightly up from 3.8% in March. Daniel Casali, investment strategist at Evelyn Partners, said that despite the data coming in lower than expected, the US labour demand has remained "resilient" and continued to "reduce the risk of a US recession". Fed holds rates steady as 'lack of further progress' on inflation signals higher for longer stance He noted the April figur...