April Jobs Report Disappoints: 160,000 Non-farm Payroll Jobs Added In April

The U.S. economy added 160,000 non-farm payroll jobs in April, the lowest level in 7 month, and below the 207,000 consensus forecast from brief.com, according to a new report today from the Bureau of Labor Statistics.

The unemployment level held at 5 percent in April.

Job revisions for February and March decreased by 19,000 compared to when they were first reported.

The February jobs report was revised from 245,000 to 233,000, and the payroll increase for March was revised from 215,000 to 208,000.

During the past 3 months, job gains have averaged 200,000 per month.

Job gains were highest in professional and business services which added 65,000 jobs in April followed by health care employment at 44,000, and financial activities which increased by 20,000 in April.

Mining employment declined by -7,000 in April.

The average hourly earnings for all employees on private nonfarm payrolls rose by 8 cents to $25.53, after an increase of 6 cents in March.

For the year, average hourly earnings have increased by 2.5 percent.

The average workweek for all employees on private nonfarm payrolls grew by 0.1 hour to 34.5 hours in April.

The labor force participation rate decreased to 62.8 percent while the employment-population ratio edged lower to 59.7 percent.

On Wednesday private payroll processor ADP reported that 156,000 private sector jobs were added in April, missing the consensus forecast of 196,000 from briefing.com.

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About Johnathan Schweitzer 1323 Articles
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