Nonfarm Payrolls Rise in April, Average Hourly Earnings Surge, Unemployment Rate Dips

Highlights

• Nonfarm payroll employment rose by 253,000 in April
• Average hourly earnings of private nonfarm payrolls increased by 0.5%
• Unemployment rate remained relatively unchanged at 3.4%

US Nonfarm Payroll Employment Up in April

The U.S. Bureau of Labor Statistics reported today that total nonfarm payroll employment rose by 253,000 in April, with employment continuing to trend up in professional and business services, health care, leisure and hospitality, and social assistance.

Unemployment Rate Drops to 3.4% in April

The unemployment rate fell to 3.4 percent in April. However, there was little change in the unemployment rate for major worker groups, including adult men, adult women, teenagers, Whites, Blacks, Asians, and Hispanics.

The number of job losers and persons who completed temporary jobs decreased, and the number of persons employed part-time for economic reasons was little changed in April. The number of persons not in the labor force who currently want a job increased, and among those not in the labor force who wanted a job, the number of persons marginally attached to the labor force increased.

Average Hourly Earnings Rise

In terms of average hourly earnings, private nonfarm payrolls saw a rise of 16 cents or 0.5 percent to $33.36 in April. Over the past 12 months, average hourly earnings increased by 4.4 percent. Average hourly earnings of private-sector production and nonsupervisory employees also rose by 11 cents or 0.4 percent to $28.62 in April.

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.4 hours, and the average workweek for production and nonsupervisory employees on private nonfarm payrolls edged down by 0.1 hour to 33.8 hours.

It is important to note that the employment data in February and March were revised down, with a total combined decrease of 149,000 jobs than previously reported. Despite this, the upward trend in nonfarm payroll employment and average hourly earnings is a positive sign for the economy.