April U.S payrolls rise by 115,000 while the projected increase was at 173,000, the U.S economy added fewer jobs than estimated as the Labor Department reported today, following the March revised figure at 154,000. At the same time the Unemployment was reported 8.1 per cent, the lowest since March 2009. Due to that March payrolls were revised from 120k to 154k and February was revised from 240,00 to 259,000, the labor market has a positive overall improvement which will help increase the consumer spending to some degree, the increase in employment also indicates that U.S economy remains on recovery course.
The markets were volatile during the release of the news, the precious metal jumped to the 1641.42 against the US dollar before returning back to 1634.91, the single currency rose from 1.3120 to 1.3150 level and for the time being is trading at the 1.3143. However, investors are looking at elections in Greece and France and for the moment are holding back from any investment decision, expecting results.