Latest U.S. Job Numbers Break Expectations

A surge of jobs rose in the U.S. as the economy continues to decelerate, the Labor Department reported on Friday.

According to the Bureau of Labor Statistics, the total of nonfarm payroll jobs rose by 253,000 in April. The number of employments shattered the estimated 180,000 new jobs by Wall Street.

The unemployment rate was 3.4%, dipping lower than the predicted 3.6%.  In addition, April’s unemployment rate tied for the second-lowest in U.S. history alongside 1969. Average hourly rates also grew as private nonfarm payrolls rose by 0.5% or 16 cents and annual hourly wages increased to 4.4%.

Based on the data recorded, job hiring is experiencing a welcomed flourish, however, inflationary pressure could see a rise in the future if the Federal Reserve decides to increase interest rates.

For comparison, Missouri’s unemployment rate in March rested at 2.5% (77,408.) Kansans experienced a similar March percentage rate of 2.9% (43,891.)