Unemployment rate rises in the US

U.S. employment growth slowed more than analysts expected in April and unemployment rose, government data show.

The world's largest economy employed 175,000 people last month, down from March's upwardly revised 315,000, the Labor Department said, cited by AFP.

The unemployment rate rose slightly to 3.9% last month from 3.8% in March.

Although hiring slowed, the number of jobs added in April remained well above 100,000, the average level that some economists say is needed to keep the unemployment rate steady.

In April, wage growth totaled 0.2 percent - up from 0.3 percent in March - on a monthly basis.

In addition to easing hiring data, policymakers expect wage growth to cool as they seek to lower inflation.

Compared with a year ago, average hourly earnings were 3.9% higher in April.

A stable labour market has helped boost consumption and economic growth despite higher interest rates, which typically make borrowing more expensive for households and businesses. / BGNES