United States Job Creation Falls Short in April, Unemployment Rate Rises to 3.9% said U.S. Department of Labor
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In April, U.S. employers created fewer jobs than anticipated, adding only 175,000 jobs, as reported by the U.S. Department of Labor on Friday. This contributed to a rise in the unemployment rate to 3.9 percent. The Bureau of Labor Statistics (BLS) highlighted job gains in healthcare, social assistance, transportation, and warehousing sectors.
Despite the increase in employment, it fell short of the average monthly gain of 242,000 over the past year, as noted in the report. February saw a surge in the unemployment rate to 3.9 percent, its highest level in two years, before slightly decreasing to 3.8 percent in March. Since August 2023, the unemployment rate has remained within a narrow range of 3.7% to 3.9%, according to the agency.
Revisions in February and March data showed a downward adjustment of 34,000 and an upward adjustment of 12,000 jobs, respectively, resulting in a combined employment figure 22,000 below previous reports. Additionally, in April, the average hourly wage for all non-farm private payroll employees increased by 7 cents, or 0.2 percent, reaching $34.75. Over the last 12 months, the average hourly earnings have risen by 3.9 percent.
