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Employment increases in April, beats expectations

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Employment increases in April, beats expectations

288,000 jobs created during month; unemployment rate drops to 6.3%.

Total nonfarm payroll employment rose by 288,000 in April, and the unemployment rate fell to 6.4%, the U.S. Bureau of Labor Statistics reported today. Consensus estimates had expected an increase of 210,000 new jobs.

Employment gains were widespread, led by job growth in professional and business services, retail trade, food services and drinking places, and construction.The results reflected the third consecutive monthly increase, and suggested some momentum in job creation within the US economy.

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Employment gains were widespread, led by job growth in professional and business services, retail trade, food services and drinking places, and construction.

The number of unemployed persons, at 9.8 million, fell almost 800,000 in April.

The civilian labor force fell by approximately 800,000 during the month. The labor force participation rate (62.8%) fell by 0.4 percentage points, and the employment-population ratio (58.9%) did not change.

Over the prior 12 months, the number of unemployed persons has declined 1.9 million, while the unemployment rate has declined by 1.2 percentage points.

The full report can be found here.

 

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