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US: 223,000 jobs added in April; unemployment rate drops to 5.4%

  • US firms added 223,000 new jobs in April, a substantial improvement from March when only 85,000 jobs were added, according to the US department of labor.

    Meanwhile, unemployment has dropped to 5.4%, the least in seven years. The service sector contributed significantly to last month's job gains.

    Data also revealed that the employees’ average hourly earnings were up 2.2% compared to the same period in 2014. It is to be seen if the wage gain boosts consumer spending in the US, experts say.

    Tagged as: US jobs, US unemployment, US firms, US employees, US wages, US consumer spending, US economy, business news