WASHINGTON (Reuters) – U.S. job growth slowed more than expected in April and the increase in annual wages fell below 4.0% for the first time in nearly three years, but it is probably too early to expect that the Federal Reserve will start cutting interest rates before September as the labor market remains fairly tight.
The Labor Department’s closely watched employment report on Friday also showed the unemployment rate rising to 3.9% from 3.8% in March amid rising labor supply. Nonetheless, the jobless rate remained below 4% for the 27th straight month.
Founder, CIO Perry International Capital Partners, LLC., Jim Perry, looks over the April Jobs report