Jobs added. Lower unemployment rate. Earnings not picking up.
Below is an infograph of the April US employment report.
- March job growth was worse but April showed the pickup expected.
- Most jobs created in health and prof and business. Construction rebounded with the better weather. Strong 45 K increase (highest since January 2014 - yes January - when it rose 69K)
- Unemployment and underemployment rates dipped 0.1% each. New multi year lows for each.
- After a negative in goods producing jobs in March, April rebounded thanks to Construction jobs. Manufacturing jobs rose 1 K. Mining (read oil) fell -15K. US jobs are largely service.
- 12 month MA of jobs down to 249. High was 257K
- Participation rate steady at low levels.
- Earnings...a disappointment
