Job creation beats forecasts in US

Washington – Hiring in the United States remained strong in April despite concerns that fast rising prices and other economic disruption could lead to slowdown.

Employers added 428 000 jobs, while the unemployment rate held steady at 3.6 per cent the Labor Department said.

The gains were bigger than expected, marking the 16th month of expansion.

The growth is likely to bolster views at the US central bank that the economy is well positioned as it starts to raise rates to try to curb inflation.

“It keeps them on track,” said Kathy Bostjancic, chief US economist at Oxford Economics.

The US economy has recovered more quickly than many expected after shutdowns in the early months of the pandemic wiped out 22 million jobs.

Across the economy, businesses have struggled to find workers to meet demand, pushing them to raise wages at the fastest pace in years. Average hourly pay was up 5.5% year-on-year in April. (BBC)

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