Dire US Jobs Growth Wipes Out Hopes of Rate Rise Until 2017

by Peter Spence, Economics Correspondent

Sliding US job growth has wiped out the chances of an interest rate rise from the Federal Reserve this year, investors and analysts believe.

Official figures have revealed that 160,000 workers found new jobs in April, well below the 200,000 expected by analysts, and the weakest increase in seven months.

Last month’s rise appeared tepid compared with March’s 208,000 gain. The numbers, compiled by the Bureau of Labour Statistics, showed that retailers and construction businesses in particular had pulled back on hiring.

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