The pace of US jobs growth is expected to have slowed further in April, in the first major test of the nation’s economic health since the Federal Reserve signalled it was “getting close” to pausing its cycle of interest rate hikes.
The US is projected to have added 183,000 non-farm payrolls last month, according to economists surveyed by Bloomberg, down from 236,000 in March. If accurate, that would represent the smallest monthly increase since late 2020.
The unemployment rate is forecast to have ticked up to 3.6 per cent from 3.5 per cent, though hourly wage growth is expected to remain solid at 0.3 per cent month-on-month. On a year-over-year basis, wages are estimated to have climbed 4.2 per cent.
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