US Economy Adds 223K Jobs In April


Total nonfarm payroll employment increased by 223,000 in April, bouncing back after an unexpectedly weak report in March and matching market expectations. The unemployment rate dropped to 5.4 percent, the lowest since May 2008.

Job gains occurred in professional and  business services, health care, and construction. Mining employment  continued to decline.

The change in total nonfarm payroll employment for February was  revised from +264,000 to +266,000, and the change for March was  revised from +126,000 to +85,000. With these revisions,  employment gains in February and March combined were 39,000  lower than previously reported. Over the past 3 months, job  gains have averaged 191,000 per month.

Professional and business services added 62,000 jobs in April. Over the prior 3 months, job gains averaged 35,000 per month. In April, services to buildings and dwellings added 16,000 jobs, following little change in March. Employment continued to trend up in April in computer systems design and related services (+9,000), in business support services (+7,000), and in management and  technical consulting services (+6,000).

Health care employment increased by 45,000 in April. Job growth was distributed among the three major components--ambulatory health care services (+25,000), hospitals (+12,000), and nursing and residential care facilities (+8,000). Over the past year, health care has added  390,000 jobs.

Employment in construction rose by 45,000 in April, after changing  little in March. Over the past 12 months, construction has added 280,000 jobs. In April, job growth was concentrated in specialty trade contractors (+41,000), with employment gains about evenly split between the residential and nonresidential components. Employment declined over the month in nonresidential building construction (-8,000).

In April, employment continued to trend up in transportation and warehousing (+15,000).

Employment in mining fell by 15,000 in April, with most of the job loss in support activities for mining (-10,000) and in oil and gas extraction (-3,000). Since the beginning of the year, employment in mining has declined by 49,000, with losses concentrated in support activities for mining.

Employment in other major industries, including manufacturing, wholesale trade, retail trade, information, financial activities, leisure and hospitality, and government, showed little change over the month.


 US Economy Adds 223K Jobs In April


Anna Fedec | anna@tradingeconomics.com
5/8/2015 1:46:48 PM