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Nonfarm payrolls smash expectations, so why all the worry?

Friday's US jobless figure surprised many; the nonfarm payrolls showed that 288,000 jobs were created in the States in April. It marked the best month of job creation since January 2012. Revised figures also showed payrolls grew faster in February and March than previously estimated.

The jobless rate also shot down to 6.3% from 6.7%. However, Saxo Bank's Head of Macro Strategy, Mads Koefoed says this is entirely down to people leaving the job market and is not such great news. In fact, the participation rate is at its lowest since the mid 1970s. The US dollar initially rose against its major competitors.

01:54 minutes
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