The US economy added new jobs far less than expected last April, and the unemployment rate rose in the world’s largest economy.
The US Department of Labor said in its jobs report issued on Friday, which receives great attention, that the US economy added 175,000 jobs in April, much less than expectations of 238,000 jobs.
The report also revised the number of jobs registered during March upward to 315,000 jobs, from 303,000 jobs in a previous reading.
The non-agricultural private sector also added less than expected jobs in April, amounting to 167 thousand jobs, compared to expectations of 181 thousand.
The report also increased the number of jobs in the private sector, recorded during March, to 243,000 jobs, from 232,000 jobs recorded in the last reading.
The unemployment rate in the United States rose to 3.9 percent, contrary to expectations that the rate would stabilize at 3.8 percent.
The US Federal Reserve kept interest rates unchanged for the sixth time in a row.
Interest rates in the world’s largest economy remained at 5.25 and 5.5 percent.
Following the release of the jobs report, Bloomberg reported that traders currently expect the US Federal Reserve to begin lowering interest rates next September, instead of November.
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