The labor market heated back up in April as employers added 253,000 jobs, according to data released Friday by the Bureau of Labor Statistics. It’s a surprising increase at a time when many indicators were pointing to a slowdown in the job market. The unemployment rate fell to 3.4% from 3.5%. The labor force participation rate held steady at 62.6%.
Some of the largest gains were in the sectors of private education and health services, professional and business services, and leisure and hospitality. In April, average hourly earnings trending up, rising 0.5% from the previous month and increasing to a 4.4% gain over the past year. In March, the monthly and annual measures of wage gains in the private sector was up 0.3% and 4.3%, respectively.
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What to expect from the April jobs report | CNN BusinessIf the latest employment trends continue and economists' forecasts prove true, Friday's jobs report could bring back that pre-pandemic feeling.
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April jobs report may point to US labor market's resilienceMonth after month, the nation's job market has stood its ground against howling headwinds — rising interest rates, chronic inflation, major bank failures and economic uncertainties across the world.
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April jobs report may point to US labor market's resilienceMonth after month, the nation’s job market has stood its ground against howling headwinds — rising interest rates, chronic inflation, major bank failures and economic uncertainties across the world.
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April jobs report may point to US labor market’s resilienceThe job market has so far withstood the Federal Reserve’s aggressive drive to stamp out high inflation.
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