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U.S. economy adds 428,000 jobs in April
Research - MAY 6, 2022

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U.S. economy adds 428,000 jobs in April

by Loretta Clodfelter

The United States added 428,000 jobs in April, according to the Bureau of Labor Statistics, and the unemployment rate remains unchanged at 3.6 percent. The labor force participation rate edged downward to 62.2 percent, following increases in the previous months. In addition, the totals for March and February were revised down to 428,000 jobs and 714,000 jobs, respectively.

“We believe the relatively softer data was pretty much in line with the relatively softer Fed,” commented Yash Chauhan, analyst – global capital markets for Validus Risk Management. “Given the lack of surprises today, the inflation number next week becomes even more significant, and we could see a sharp correction in rate hike expectations in the next few months if data continues to moderate. The risks are more asymmetric than ever.”

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