Employers Defy Expectations of a Slowdown, Adding 428,000 Jobs in April – By Tim Smart (US News) / May 6, 2022
The labor market continues to rack up big gains in employment.
The great American job machine rolled on in April, as employers added 428,000 jobs, the Labor Department reported on Thursday.
The number beat forecasts for an increase of 380,000 following the revised 428,000 added in March. The unemployment rate, meanwhile, remained steady at 3.6%.
“Job gains were widespread, with the largest gains occurring in leisure and hospitality, in manufacturing, and in transportation and warehousing,” the report said. “However, nonfarm employment is down by 1.2 million, or 0.8%, from its pre-pandemic level in February 2020.”
Average hourly earnings rose by 0.3% in April, below the estimate of a 0.4% rise, in a sign that wage pressures may be moderating.
