The U.S. labor market showed further signs of cooling down after the economy added a smaller-than-expected 175,000 new jobs last month, down from 315,000 in March, according to the Bureau of Labor Statistics. The market had penciled in a reading of 243,000 positions.
In April, the unemployment rate shot up to 3.9 percent, up from 3.8 percent and slightly higher than the consensus estimate of 3.8 percent.
