The U.S. economy added 164,000 jobs in April according to the monthly employment report released today by the U.S. Department of Labor's Bureau of Labor Statistics (BLS). This seasonally adjusted figure is a 21.4 percent increase from March's upwardly revised addition of 135,000 jobs, and marks a 6.2 percent decrease from last April, when 175,000 jobs were created. This reading fails to meet economists' expectations that 195,000 new jobs would be added last month.
In April, unemployment rate dropped to 3.9 percent, which marked the lowest level since 2000, following a six-month steady rate of 4.1 percent.
Average hourly earnings for employees on private nonfarm payrolls increased by 4 cents in April to $26.84, a 67-cent (or 2.6 percent) increase from a year prior.
In April, overall construction industry employment increased by 17,000 positions, to a total of 7.17 million jobs. March's construction industry saw a decrease of 15,000 jobs, due to a 16,200 decrease in employment of specialty trade contractors, and decrease of 3,600 jobs in heavy and civil engineering. However, employment related to construction of residential and nonresidential buildings increased by 8,800 positions, to a total of 1.59 million jobs. Residential building construction increased by 3,700 positions to a total of 785,000, while nonresidential building construction jobs increased by 5,100 to 809,700 total positions.
Employment in the manufacturing industry rose by 24,000 jobs in April, with gains attributable to a increase of 18,000 jobs in durable goods industries.
Meanwhile, payrolls in architectural and engineering services increased by 5,200 jobs in April, to a total of 1.46 million positions.
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