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US labor market heats back up, adding 253,000 jobs in April | CNN Business

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US labor market heats back up, adding 253,000 jobs in April. It’s a surprising increase as economists expected a decline.

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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