Job Gains Slow In April, but Too Soon to Say the Trend Has Changed

May 3, 2024 · It was a similar story for the unemployment rate, which ticked up to 3.9% in April from 3.8% in March. “The unemployment rate changed little,” the BLS said in its report, noting …

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Job Gains Slow In April, But Too Soon To Say The Trend Has Changed

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Mar 8, 2024 · Total nonfarm payrolls climbed by 275,000 versus a downward-revised 229,000 in January. The unemployment rate grew to 3.9% from 3.7% in January. Average hourly wages …

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FAQs about Job Gains Slow In April, but Too Soon to Say the Trend Has Changed Coupon?

Why did US job growth slow in April?

US job growth slowed considerably last month, with just 175,000 positions added in April, according to Bureau of Labor Statistics data released Friday. The slower-than-expected gains — April’s tally is the lowest since October of last year — come as the Federal Reserve has sought to cool demand to tame high inflation. ...

Are high interest rates slowing the job market?

WASHINGTON (AP) — The nation’s employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market. Friday’s government report showed that last month’s hiring gain was down sharply from the blockbuster increase of 315,000 in March. ...

Is the job market shifting into a lower gear this spring?

The American job market may be shifting into a lower gear this spring, a turn that economists have expected for months after a vigorous rebound from the pandemic shock. Employers added 175,000 positions in April, the Labor Department reported Friday, undershooting forecasts. The unemployment rate ticked up to 3.9 percent. ...

How has April impacted job growth?

Even with the April hiring slowdown, last month’s job growth amounted to a solid increase, though it was the lowest monthly job growth since October. With the nation’s households continuing their steady spending, many employers have had to keep hiring to meet their customer demand. ...

Is the job market slowing?

Inflation did steadily cool as it was supposed to — from a year-over-year peak of 9.1% in June 2022 to 3.5% in March. Yet the resilient strength of the job market and the overall economy, fueled by steady consumer spending, has kept inflation persistently above the Fed’s 2% target. The job market has been showing other signs of eventually slowing. ...

How many jobs did employers add in April?

Employers added 175,000 positions in April, the Labor Department reported Friday, undershooting forecasts. The unemployment rate ticked up to 3.9 percent. A less torrid expansion after the 242,000-job average over the prior 12 months isn’t necessarily bad news, given that layoffs have remained low and most sectors appear stable. ...