U.S. April Non-Farm Payroll Report: Addition of 120,000 Jobs, Hourly Wage Growth Rate Expected to Rebound to 3.8%

BlockBeats News, May 8th, Bill Adams, Chief U.S. Economist at Fifth Third Bank, predicted that the April nonfarm payroll is expected to add 120,000 jobs, and the unemployment rate will remain unchanged at 4.3%. The average hourly earnings rate may increase from 3.5% in the March report to 3.8%, which will partially ease the impact of rising gas prices on the cost of living.

If this forecast comes true, the average monthly job growth since the beginning of the year will be around 80,000, exceeding the pace of job seekers, whose growth has slowed down due to an aging population and immigration restrictions.