USA 
United Kingdom
Despite growing worry around the current banking crisis and increasing borrowing costs, it seems that the US jobs market is in rude health.
Within the last month, employers added a total of 253,000 jobs according to the Bureau of Labour Statistics – a far stronger performance than analysts predicted, even whilst the Federal Reserve signalled it was ‘getting close’ to pausing its cycle of interest rate rises.
In addition to the creation of new jobs, the unemployment rate across the US fell to 3.4%, returning to a low that beat several decades of higher rates.
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Whilst the news reverses the immediate predictions based on recent economic events, The Labor Department’s latest report noted that hiring had been weaker than previously estimated in February and March.
April showed tentative signs of further progress, with wages up 4.4% from a year ago.
However, the long-term financial forecast looks less promising, with many economists reportedly expecting the US economy to fall into recession later this year, noting big slowdowns in key sectors.
This will inevitably slow growth within the hiring sector as firms tighten belts and ramp down expansion plans.
As for which markets were enjoying the effects of the robust jobs growth in April, it was a particularly strong month for professional and business services, while hiring in the healthcare and leisure and hospitality sectors also expanded.
