Economy adds 211000 jobs in April

Economy adds 211000 jobs in April

Economy adds 211000 jobs in April

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

StatsCan noted that most of the jobs added were in education and health care services, while unemployment remained almost unchanged at 5.5%, compared to 5.4% in March. April job gains were solid in most industries and particularly strong in leisure and hospitality, professional and business services, as well as mining.

The April report apparently confirmed the March numbers were something of a blip that did not reflect the underlying strength of the job market.

Hamilton's unemployment rate fell to 5.4 per cent from 5.9 per cent.

The US central bank earlier this week kept its benchmark interest rate on hold and said it expected labour market conditions would "strengthen somewhat further".

Many economists say the United States is now at or near "full employment", meaning the unemployment rate won't go down significantly more. "The Fed will respond accordingly". Factories added 6,000 jobs after a 13,000 gain, while construction workers rose by 5,000, following a 1,000 gain in March.

April saw an average hourly earnings increase of $0.07 to a sum of $26.19.

The drop in youth participation helped push the jobless rate down by 0.2 percentage points in April even though overall employment was nearly unchanged. For the month of April, it sat at 6.5% which is the lowest rate since October of 2008.

Overall, the report suggests that the economy is growing at a healthy pace despite the poor jobs number in March and sluggish first quarter GDP showing.

The data for demographic groups came from a survey of households that is part of the Labor Department's monthly jobs report. More specifically, the overall unemployment rate might seem artificially lower than it actually is if fewer USA citizens are working or actively looking for a job. However, many economic forecasters are expecting an acceleration to better than 3% growth for the April through June period.

"Over the year, the unemployment rate has declined by 0.6 percentage point, and the number of unemployed has fallen by 854,000", the Bureau of Labor Statistics says.

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