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العربية
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4 May

By Ahmed Mamdouh

Category: Forex News

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U.S. employers create fewer than forecast jobs in April

The U.S. dollar fluctuated with slight downside tendency against major currencies on Friday after a mixed jobs report that failed to give a clear indication about the health of the labor market.

The non-farm figures signaled a less than forecast job creation pace in April, deceleration in wage growth and more than forecast drop in unemployment rate. 

Analysts predicted a job creation of 190,000 jobs, but the reading showed 168,000 jobs added, from an upwardly revised of 135,000 job-gain in March, which was 103,000 before revision.

Unemployment rate slipped to a new record low of 3.9 percent from 4.1 percent, better than forecasts of 4.0 percent.  

The average hourly earnings gained 0.1 percent last month, beneath both forecast and revised readings of 0.2 percent rise.

Annual average hourly earnings soared 2.6 percent, above both prior and expected readings of 2.7 percent.

The dollar index showed muted effect after the release of the news, where it continued to trade near 90.1, as of 12:34 GMT.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.