US job growth remains healthy
Wages up as companies scramble to hire, but inflation erodes workers’ gain
WASHINGTON: US employment continued to increase at a robust pace in April and wage growth moderated, though a surprise drop in the participation rate suggests the labour market will remain exceedingly tight.
Nonfarm payrolls increased 428,000 in April, matching the prior month, a Labor Department report showed on Friday. The unemployment rate held at 3.6% as the size of the labour force declined. Average hourly earnings rose from a month earlier.
The solid payrolls advance suggests…
