Employment increased by 165,000 in April, and the unemployment rate was 7.5%

Employment increased by 165,000 in April, and the unemployment rate was 7.5%. Affected by the increase in non-agricultural employment in the United States in April, the U.S. stock market continued to rise in early trading on Friday, with the Dow approaching 1...

Employment increased by 165,000 in April, and the unemployment rate was 7.5%. Affected by the increase in U.S. non-agricultural employment in April, the U.S. stock market continued to rise in early trading on Friday, with the Dow approaching 15,000 points and the S&P index exceeding 1,600 points, both hitting record highs. The number of non-farm payrolls in the United States increased by 165,000 in April, and the unemployment rate fell to 7.5%, reaching the lowest level since December 2008, which cheered up market sentiment. The U.S. Department of Labor announced that non-farm employment increased by 165,000 in April from the previous month. According to the median of a previous Bloomberg survey of 90 economists, the average expectation was for an increase of 145,000. The unemployment rate remained stable at 7.6%. Data show that job gains in April were mainly concentrated in restaurants, bars and retail industries. In addition, the increase in non-agricultural employment in the United States in February and March was revised to increase by 114,000. Steven Ricchiuto, chief economist at Nomura Securities, said the sharp increase in employment was unexpected. Although the employment momentum shows good results, experts believe that we cannot be too optimistic. At present, the government seems to be the biggest drag on the market, with federal, municipal and local government workers cutting 11,000 jobs in April. The level of state and local government spending has fallen back to the same period 10 years ago and continues to decline.