Friday, May 6, 2016

April Jobs Report

After the first quarter GDP number came in it a disappointing 0.5 percent, many economists were wondering if we'd see a slowing of jobs growth as well. We got our answer this morning: The economy added just 165,000 jobs in April, a notch below the 232,000 average we'd seen for the past 12 months. The headline unemployment figure was unchanged at 5.0 percent.

The weaker economy was also reflected in the Labor Department's changes to earlier months. March’s originally reported payroll number was revised down to 208,000 from 215,000, and February was revised down to 233,000 from 245,000. 

Professional and business services added 65,000 jobs in April, the single-best sector on the month. Healthcare added 44,000 jobs, while financial activities added 20,000. The Labor Department lists every other sector, though, as having little or no change.

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