US non-farm payroll employment rose 428k in April, slightly above expectation of 400k. Total employment was still down by -1.2m, or -0.8%, from its pre-pandemic levels.
Unemployment rate was unchanged at 3.6%, matched expectations. Number of unemployed persons was essentially unchanged at 5.9m. The numbers compared to prepandemic levels of 3.5% and 5.7m respectively. Labor force participation rate dropped -0.2% to 62.2%.
Average hourly earnings rose 0.3% mom, below expectation of 0.4% mom.
