Average hourly wages increased by 0.1 per cent month on month in April, half of what was forecast BRENDAN MCDERMID/REUTERSThe American jobs boom continued into April, but a long-awaited pay boost for employees failed to materialise, dampening expectations that the Federal Reserve will be forced to raise interest rates more aggressively this year. Private employers expanded their payrolls for the 91st consecutive month, although by less than had been forecast, as unemployment fell to its lowest level since 2000, according to the Department of Labor’s employment report. The employment situation report is the most important gauge of the health of the American economy. The key figure is the non-farm payrolls number, which measures job growth among private employers outside of farms, where labour demands are seasonal. Policymakers at the Federal Reserve, the US central bank, watch the…

Source: The Times May 04, 2018 15:56 UTC