U.S. employers Add 223k jobs in April; Jobless Rate at 5.4%

U.S employers added 223,000 jobs in the month of April, the Department of labor said on Friday.  The employment rate fell to 5.4% from 5.5%, the lowest since May 2008. Economists surveyed by the Wall Street Journal expected a gain of 228,000 jobs and a jobless rate of 5.4%.

Job gains occurred in professional and business services, health care, and constructions while mining employment continued to decline.

  • Professional and Business Services added 62,000 jobs
  • Health care added 45,000 jobs
  • Construction added 45,000 jobs
  • Transportation and warehousing added 15,000 jobs
  • Mining employment fell by 15,000 jobs
  • Other industries saw little change

 

The March jobs number was revised downwards to 85,000 from 126,00 while the February jobs number was revised upwards to 266,000 to 264,000. Over the past 3 months, job gains have averaged 191,000 per month. Economists believe that job gains above 150,000 indicate a growing economy.

The modest wages modest continued in April. Hourly wages grew 3 cents to $24.87 and were up 2.2% from a year earlier.

The unemployment rate for Asians increased to 4.4 percent, while other groups showed very little change from the previous month. The unemployment rates of adult men was 5 percent, adult women 4.9 percent, teenagers 17.1 percent, whites 4.7 percent, blacks 9.6 percent and Hispanics 6.9 percent.

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