Job gains hit 7-month low
Unemployment rate holds at 5%; numbers cast doubts on Fed rate hike this year
Washington
THE US economy added the fewest number of jobs in seven months in April and Americans dropped out of the labour force in droves, signs of weakness that cast doubts on whether the Federal Reserve will raise interest rates before the end of the year.
Non-farm payrolls increased by 160,000 jobs last month as construction employment barely rose and the retail sector shed jobs, the Labour Department said on Friday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
When US diplomats visit China, meal choices are about more than taste buds
China’s first-quarter industrial profits rise at slower pace
Laid-back vibe, stunning beaches, rich cuisine and low cost of living lure more expat retirees to Malaysia
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked