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US Hiring Rebounds
World Economy

US Hiring Rebounds

The US economy pumped out a solid 223,000 new jobs in April and unemployment ticked down to a seven-year low of 5.4%, the Labor Department said, AP reported. But the US labor market nevertheless showed some signs of weakness, with wages barely growing and underemployment still elevated. The Labor Department´s monthly jobs market report was roughly in line with expectations, reversing a dismal performance in March, when the number of jobs generated was just 85,000. April´s recovery demonstrated that the economy still shows muscle following the first-quarter stall, analysts said. But, pointing to weak details behind the headline numbers, they said another strong month or two is needed to prove the winter slowdown was “transitory,” echoing the view of the Federal Reserve late last month.

 

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