Friday, May 02, 2008

US Nonfarm Payrolls

Nonfarm payrolls in the US fell by 20,000 in April, according to the monthly report released by the Labor Department. The decline was much less than expected, as economists had estimated job losses at 78,000. The report suggests that the U.S. labor market didn't continue to deteriorate in April, as jobs were lost at an average rate of 80,000 a month in the first quarter compared to 20,000 for the current month.

The unemployment rate also fell, declining by 0.1% to 5.0%. Economists were expecting a 5.2% jobless rate.

See Full Report.

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