U.S. payrolls increased 115,000 in April, more than expected; unemployment at 4.3%

Job creation was better than expected in April, as the U.S. labor market continued to defy expectations for a slowdown this year, the Bureau of Labor Statistics reported Friday.

Nonfarm payrolls rose by a seasonally adjusted115,000 for the month, down from the 185,000 created in an unusually strong March but better than the 55,000 forecast in the Dow Jones consensus estimate.

The unemployment rate held at 4.3%, further proof that the labor market has reached a point where only modest job creation is needed to keep the jobless level steady, given little growth in the labor force.

Average hourly earnings, another closely watched metric of labor market health, rose 0.2% for the month and 3.6% on an annual basis, compared to respective estimates for 0.3% and 3.8%.

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