April jobs report from U.S. Department of Labor

UPS employee works inside the company's Worldport hub in Louisville Ky. On Friday
US employment growth seen rebounding, wages increasing
Author

12 May, 2017

The U.S. unemployment rate fell to 4.4 percent in April and 211,000 new jobs were created, a Bureau of Labor Statistics report released Friday said.

The average workweek for all employees on private nonfarm payrolls increased by 0.1 hour to 34.4 hours in April.

KEY DRIVERS: Even though the overall economy was growing at a sluggish pace at the beginning of the year, the jobless rate fell to 4.5 percent in March, the lowest in almost a decade.

"This report absolutely supports their view of how the economy is going", adds Tilley.

Leisure and hospitality added 55,000 jobs, with employment in food services continuing to trend up.

Perhaps most encouragingly, wage growth is also accelerating. Job gains in the sector during April were led by the courier, warehousing and air transportation segments, which grew employment by 3,200, 2,500 and 500 jobs, respectively, from the previous month.

Manufacturing and construction jobs rose, but at a weaker pace than at the start of this year.

The unemployment rate refers to the percentage of the population made up of individuals who are actively looking for employment, but can't find a job.

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The state of economy should see further improvements thanks to better measures of unemployment and underemployment.

The US labour market is on the upswing as unemployment rate fell to 4.4% for April 2017, the lowest since May 2007.

Acosta continued by citing encouraging initiatives for employment growth in the months ahead.

The Dow Jones industrial average and the broader Standard & Poor's 500-stock index both inched up.

According to NPR, President Obama added an average of 109,000 jobs per month during his eight years in office.

They appeared to back the Fed's contention that disappointing GDP growth in the first quarter - at an annual pace of 0.7% - was likely to have been "transitory".

Strengthening business sentiment might be translating into hiring, and the data should keep Federal Reserve policymakers on track to raise interest rates in the coming months after officials declared the first-quarter slowdown to be temporary. That firm laid off some 60 employees in its US business services team, and The American Lawyer reported in mid-April that Dentons had also asked several USA partners to leave following a budget shortfall in 2016.


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