According to the latest Jobs Report released by the Bureau of Labor Statistics on Friday, job creation exceeded expectations in April, as the U.S. labor market continued to defy predictions of a slowdown this year.
Nonfarm payrolls increased by 115,000 in the month, a decrease from the 185,000 added in the unusually strong March, but surpassing the Dow Jones consensus estimate of 55,000.
Health care led with 37,000 new positions, Transportation and warehousing added 30,000, retail grew by 22,000 and social assistance saw a gain of 17,000.
The unemployment rate remained at 4.3%.
Average hourly earnings were lower than expected, rising 0.2% for the month and 3.6% annually, compared to estimates of 0.3% and 3.8%.
Information services lost 13,000 jobs, down 342,000 since November 2022, as artificial intelligence impacted the sector, according to the BLS. That represents a decline of 11% of jobs during that period.
By CEO NA Editorial Staff
