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UE rate falls to lowest since 2000; interest rates head lower

Published 05/04/2018, 08:46 AM
© Reuters.  UE rate falls to lowest since 2000; interest rates head lower
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  • The April job gain of 164K was 25K shy of estimates, but March was revised higher by 22K jobs to 135K, and February down 2K jobs to 324K. We'll call things about inline.
  • The unemployment rate, however, fell to 3.9% in April from 4.1% previously. This was helped along by a 10 basis point dip in the labor force participation rate to 62.8%. The broader U-6 unemployment rate fell to 7.8% from 8%. One year ago, it was at 8.6%.
  • The average workweek was unchanged at 34.5 hours. Average hourly earnings rose $0.04 to $26.84 - about half of what was expected. On a year-over-year basis, they're up 2.6%.
  • Full report
  • U.S. stock index futures remain modestly lower, but the 10-year Treasury yield has dipped 3.2 basis points to 2.917%. TLT +0.45%, TBT -0.9%
  • Previously: Jobs a hair soft, UE rate dips below 4% (May 4)
  • Now read: Don't Be Afraid Of The Dark


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