With the U.S. employment market continuing to add new opportunities, the Federal Reserve needed a win in the form of a lower-than-expected print. It got that for the month of April. However, one datapoint isn’t going to solve all of the central bank’s issues, which presents a cynically positive framework for Canadian gold mine Iamgold (IAG).
Previously, the economy continued to add non-farm payrolls above economists’ estimates. However, this positive trend stopped last month. According to the Associated Press, the April jobs report saw 175,000 new positions added. That was down sharply from March’s blockbuster print of 315,000 and was below expectations for 233,000 in April.
