United States: Hiring Remains Robust While the Unemployment Rate Returns to Recent Low

According to the establishment survey, the US economy added 253,000 jobs in April after gains of 165,000 (revised from 236,000) in March and 248,000 (revised from 326,000) in February.

The unemployment rate fell back to its recent low of 3.4% last seen in January.

Strong wage and job growth is complicating the work of the Fed, which just signalled that further rate hikes may not be necessary. It'll be looking for the data to soften in the months to come.