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16:55 GMT
WASHINGTON, May 3 (KUNA) -- U.S. total nonfarm payroll employment increased by 175,000 in April, and the unemployment rate changed little at 3.9 percent, the U.S. Bureau of Labor Statistics said on Friday.
Job gains occurred in health care, in social assistance, and in transportation and warehousing, the bureau added in a press release.
This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics, it noted.
The establishment survey measures nonfarm employment, hours, and earnings by industry.
The report raised the prospect of a "Goldilocks" climate where growth continues but not at such a rapid pace to force the Fed to tighten policy further.
Following the report, traders priced in a strong chance of two interest rate cuts by the end of 2024.
"With today's report of 175,000 new jobs, the great American comeback continues. When I took office, I inherited an economy on the brink, with the worst economic crisis in a century," US President Joe Biden said, commenting on the report.
"I had a plan to turn our country around and build our economy from the middle out and the bottom up.
"Now we are seeing that plan in action, with well over 15 million jobs created since I took office, working-age women employed at a record high rate, wages rising faster than prices, and unemployment below 4 percent for a record 27 months in a row," he stated.
"There's more work to do. I have a plan to lower the cost of rent and homeownership by building two million homes; to cut taxes for middle-class families and American workers; and to continue making health care, prescription drugs, inhalers, and insulin more affordable," he said. (end)
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