The Labor Department reported this morning that the U.S. economy added 223,000 jobs in April and bounced back to over 200,000, up from a revised 85,000 jobs in March, while the unemployment level dropped to 5.4 percent from 5.5 percent in March.
Economists at briefing.com estimated 255,000 jobs added in April. Most economists are relived to see the headline number of non-farm payroll jobs created back over 20,000 after March’s weak number which led to some questions about the stability of the job market.
Over the past 3 months, job gains have averaged 191,000 per month.
Job gains gains were revised lower by 39,000 for the past 2 months. February was revised from 264,000 to 266,000, and the change for March was revised from 126,000 to 85,000.
The average workweek for all employees on private nonfarm payrolls remained at 34.5 hours in April while average hourly earnings rose by 3 cents to $24.87.
Over the past 12 months, average hourly earnings have increased by 2.2 percent.
The labor force participation rate was changed little at 62.8 percent.
Since April 2014, the participation rate has remained within a tight range of 62.7 percent to 62.9 percent.
Employment expanded most in construction, professional and business services, health care but dropped the most in mining.
Professional and business services added 62,000 jobs in April. Health care employment rose by 45,000 in April. Construction saw job gains of 45,000 in April, after barely growing in March.
Employment in mining fell by 15,000 in April with 3,000 losses felt in oil and gas extraction.
-Johnathan Schweitzer * On October 2nd I will be participating in a fundraiser in Seattle called Base 2 Space. Money raised will benefit Fred Hutchinson Research Center and Space Needle Foundation for cancer research. I will be climbing the Space Needle to help raise money and work alongside others to reach their $1 million dollar target. Please consider donating to this worthy cause on my behalf at my fundraising page. I will post some photos here after I complete this charity climb. Thanks. Donate