The US economy may be cooling down a bit as job growth slowed down and the unemployment rate increased last month. The US is home to the greatest economy in the world.
According to the Labor Department, employers added 175,000 jobs in April, while the unemployment rate increased from 3.8% in March to 3.9%.
For the first time in months, employment growth fell short of analyst expectations, and it was the fewest job additions since October.
Given that borrowing prices are still at two-decade highs, the US labor market has been constantly monitored for any indications of slowing.
The news, according to analysts, may strengthen the case for a rate drop by the Federal Reserve later this year.
“The US labor market finally appears to be showing some signs of weakening.
