US Economy Adds 177,000 New Jobs in April, Tops Market Estimates

Payroll growth was led by health care, transportation and warehousing, and financial activities.

The U.S. labor market remains solid amid a backdrop of uncertainty as the economy created a higher-than-expected number of new jobs.

According to the Bureau of Labor Statistics, the U.S. economy added 177,000 new jobs in April. This is down from the 185,000 positions created in March, which was adjusted lower from 228,000.

Last month, the unemployment rate was unchanged at 4.2 percent.

Average hourly earnings held steady at 3.8 percent year over year.

The labor force participation rate edged up to 62.6 percent, and average weekly hours were flat at 34.3.

The consensus forecast indicated 130,000 new jobs and the unemployment rate holding steady at 4.2 percent.

Employment gains were concentrated in health care (51,000), transportation and warehousing (29,000), and financial activities (14,000).

Federal government employment tumbled by 9,000 and has declined by 26,000 so far this year.

โ€œEmployees on paid leave or receiving ongoing severance pay are counted as employed in the establishment survey,โ€ the Bureau of Labor Statistics noted.

Manufacturing payrolls fell by 1,000.

Employed full-time workers increased by 305,000, while part-time employees increased by 56,000.

The number of people working two or more jobs decreased by 76,000 to 8.86 million.

The years-long gap in payroll growth among U.S.- and foreign-born workers narrowed last month.

Employed foreign workers declined by 410,000 from March to April. However, employed American-born individuals increased by more than 1 million.

The number of long-term unemployedโ€”individuals out of work for 27 weeks or moreโ€”jumped by 179,000 to 1.7 million. The long-term unemployed account for nearly one-quarter (23.5 percent) of all jobless people.

Revisions continued as employment in February and March were adjusted lower by 58,000 from initial reporting.

Byย Andrew Moran

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