BancaMarch : Official figures released on Friday were positive and job creation in April was high as the number of jobs increased by +253k, with the private sector accounting for 91% of job creation in the month and with the improvement in hiring extending to most sectors.
On the less positive side, the figures for the previous two months were revised downwards by -149 thousand jobs. In addition to this high dynamism in employment, it should be noted that wage growth picked up in April, growing at a rate of +4.4% year-on-year, one tenth of a percentage point higher than in the previous month (a figure that was also revised upwards).
As regards the employment survey, the unemployment rate exceeded expectations, falling further to 3.4%, a tenth of a percentage point lower than in the previous month, while the participation rate remained unchanged this month at 62.6%. Overall, the labour market data continue to show a high degree of resilience, with the unemployment rate returning to lows and both employment and wages rebounding in April.
