U.S. Job Growth Slows as Unemployment Rate Comes in Below Expectations

The latest data showed a combination of low job gains and a low unemployment rate. According to Jin10, the unemployment rate was 4.2%, below broad expectations and below the 4.3% consensus among five major Wall Street investment banks. The report showed 57,000 new jobs, ending a run of more than 100,000 new jobs over the previous three months. The figure was closer to Citigroup’s estimate of 25,000 and below the 90,000 to 130,000 range forecast by mainstream Wall Street investment banks.