Total nonfarm payroll employment increased by 211,000 in April, and the unemployment rate was little changed at 4.4%, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in leisure and hospitality, health care and social assistance, financial activities, and mining.
The UK economy scored a hat-trick of good news this week. The purchasing managers' indices (PMIs) for the key sectors all strengthened above forecasts in April. We had already seen this week that the manufacturing sector PMI had risen sharply to 57.3 from 54.2 previously and construction PMI to 53.1 from 52.2. The key question was how the dominant services sector performed amid the Brexit uncertainty and ahead of the general elections in June.
U.S. companies hired the fewest workers in six months in April as they faced increasing difficulty finding qualified workers in a tightening labor market, a report by a payrolls processor ADP showed on Wednesday.
A draft executive order to withdraw the United States from the North American Free Trade Agreement is under consideration, a senior Trump administration official said on Wednesday, confirming an earlier report from Politico.