U.S. jobs growth lowest in 7 months, casting doubt on further Fed hikes this year

, Bitcoin News

The U.S. economy added the fewest number of jobs in seven months in April and Americans dropped out of the labor force in droves.

WASHINGTON — The U.S. economy added the fewest number of jobs in seven months in April and Americans dropped out of the labor force in droves, signs of weakness that cast doubts on whether the Federal Reserve will raise interest rates before the end of the year.

Nonfarm payrolls increased by 160,000 jobs last month as construction employment barely rose and the retail sector shed jobs, the Labor Department said on Friday.

That was the smallest gain since September and below the first-quarter average job growth of 200,000.

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