The U.S. economy added 160,000 jobs in April, according to nonfarm payroll data from the Labor Department, while the unemployment rate stayed put at 5 percent. On a positive note, hourly earnings increased on average by 8 cents in April.
The jobs figure came in below a Reuters poll, where economists predicted 202,000 new jobs. To compare, in the past year, the average employment growth came in around 232,000 per month. April's jobs figure was the weakest gain seen since September.
U.S. stock futures briefly fell after the report but regained some ground, while markets fluctuated in Europe, and the sterling spiked to reach $1.4546, before paring. U.S. markets were trading lower on Friday, following the data.
Investors will be looking to see what the latest figures mean for an interest rate hike from the U.S. Federal Reserve, with traders recently showing mixed views as to how many times the central bank will raise rates in 2016.