US Job Gains and Wages Pick Up, Signaling Labor Resilience

US hiring and workers’ pay gains accelerated in April, showing signs of labor-market resilience and fresh inflationary pressures in the face of economic headwinds. Nonfarm payrolls increased 253,000 after a downwardly revised 165,000 advance in March, a Bureau of Labor Statistics report showed Frida

May 6, 2023 . 2:26 PM

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US hiring and workers’ pay gains accelerated in April, showing signs of labor-market resilience and fresh inflationary pressures.
Nonfarm payrolls increased 253,000 after a downwardly revised 165,000 advance in March.
Unemployment rate fell back to a multi-decade low of 3.4%.
Job growth was broad-based, reflecting gains in health care, professional and business services as well as leisure and hospitality.
Average hourly earnings rose 0.5% in April, the most in about a year on an unrounded basis.