NEW YORK, May 4 (Reuters) - U.S. Treasury yields fell on Friday after a government report showed the world’s largest economy created fewer jobs than expected last month, with wages also rising less than forecast.
The report puts the Federal Reserve on track to raise interest rates at a gradual pace.
The Labor Department said U.S. non-farm payrolls grew by 164,000, lower than market expectations for a rise of 192,000 jobs. In addition, average earnings growth, a closely-monitored inflation indicator, grew by just 0.1 percent in April after rising 0.3 percent the previous month.
In early morning trading, U.S. benchmark 10-year yields fell to 2.914 percent from 2.946 percent late on Thursday.
U.S. 30-year bonds slid to 3.089 percent, from Thursday’s 3.121 percent. (Reporting by Gertrude Chavez-Dreyfuss Editing by Chizu Nomiyama)