U.S. April Nonfarm Payrolls Rose 160k; Unemp. Rate at 5%
Nonfarm payrolls forecast est. 200k, range 160k-315k from 92 economists surveyed
• Nonfarm payrolls, net revisions, subtracted 19k from prior two months
• Participation rate 62.8% vs prior 63%
• Avg. hourly earnings m/m 0.3%, est. 0.3%, prior 0.2%
• Y/y 2.5%, prior 2.3% est. 2.4%
• Nonfarm private payrolls rose 171k vs prior 184k; est. 195k, range 150k-242k from 45 economists surveyed
• Manufacturing payrolls rose 4k after falling 29k in the prior month; economists estimated -5k, range -20k to 22k from 26 economists surveyed
• Unemployment rate 5% vs prior 5.0%; est. 4.9%, range 4.8%-5.1% from 86 economists surveyed
• Underemployment rate 9.7% vs prior 9.8%
• Change in household employment fell 316k vs prior up 246k