Pins matching posted:2023-05-05

Wholesale used vehicle prices declined last month for the first time this year.

Cox Automotive reported a 3% decline from March to April in its Manheim Used Vehicle Value Index.

Further declines could help bring used vehicle pricing down for consumers, since retail prices traditionally follow changes in wholesale prices.

Nonfarm payrolls increased 253,000 for April, beating Wall Street estimates for growth of 180,000.

The unemployment rate was 3.4% against an estimate for 3.6% and tied for the lowest level since 1969.

Average hourly earnings rose 0.5% for the month and increased 4.4% from a year ago, both higher than expected.