US labour market loses steam: job creation slows down
Norbolsa: The April employment report provided signs that the labour market is losing strength as job creation slowed in the month, below expectations (175,000 versus 240,000 against 303,000 previously revised downwards by 12,000) and the unemployment rate rebounded slightly (up 3.9% versus 3.8% year-on-year). Additionally, pressure on wages continued to moderate (up 0.2% month-on-month versus 0.3% year-on-year; up 3.9% year-on-year versus 4.1% year-on-year), a welcome move by the FED in…