April jobless rate hits 10-year low on services strength, but hiring momentum slows
The unemployment rate edged down to 3.0% in April (Mar: 3.1%), a 10-year low backed by hiring in the services sector
- Unemployment dropped 0.7% MoM (Mar: -0.6%), the fastest pace in three months.
- In absolute terms, the number of unemployed fell to 525.9k (Mar: 529.6k), near pre-pandemic levels (Feb-20: 525.2k).
- The actively unemployed fell to 418.6k (Mar: 420.7k), the lowest since February 2020 (343.2k).
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