Private sector job growth unexpectedly jumps in April to 296,000

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Private sector hiring surged in April to the highest level in 10 months, despite expectations that the labor market will slow due to higher interest rates.

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last month, easily beating the 148,000 gain that economists surveyed by Refinitiv predicted and the revised 142,000 figure recorded last month.A"Now Hiring" sign during a job fair at a Schneider Electric manufacturing facility in Hopkins, South Carolina, on Jan. 18, 2023.wages the most aggressive fight since the 1980s to crush inflation and slow the labor market with a series of rapid interest rate increases.

Job seekers visit booths during the Spring Job Fair at the Las Vegas Convention Center Friday, April 15, 2022.The bulk of the gains in April stemmed from the leisure and hospitality industry, which added 154,000 new workers.

 

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