US: 223,000 jobs added in April; unemployment rate drops to 5.4%
May 9 , 2015
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.