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cashgazette.com June 28, 2017


Employers Added a Robust 211000 in April

18 May 2017, 10:18 | Archie Newman

U.S. Jobless Claims Fall

Job seeker Tony Harris shakes hands with a representative from Verizon at a City of Boston Neighborhood Career Fair in Boston

Experts expect the unemployment rate to hold steady at 4.5% - its lowest point in a decade.

The latest claims report has no bearing on April's employment report, which is scheduled for release on Friday, as it falls outside the survey period. Meanwhile, average hourly earnings rose 0.3% last month, up from March's climb of 0.1% and in line with forecasts.

Still, the USA faces many key issues: millions of "prime age" Americans have left the job market and an unusually high number of workers have part-time jobs but want full-time jobs.

The U.S. economy expanded by 0.7 percent in the first quarter of 2017.

With unemployment as low as it is, firms may have a harder time hiring and job growth could slow by the end of the year, Mr Faucher said.

The rate reduction was fostered by an 211,000 increase in nonfarm payrolls.

Compared to a year earlier, the data showed that Canada added 275,700 jobs, 189,600 of which were full-time positions.

The employment numbers are a key component in the calculus used by the US Federal Reserve in its interest rate decisions.

By industry, the biggest payroll gains were in leisure and hospitality, which added 55,000 jobs, and health care and social assistance, which added 36,800.

However, that helped cause a tumble during March that offset gains that became amplified due to snowstorms across the Northeast and Midwest that left growth in employment during March at approximately 50% of the earlier rates. Professional and business services also saw an upward trend in employment, with 612,000 jobs added in the past 12 months.

Today's figures show that the jobless rate for adult men fell three tenths to 4% but rose a tenth for women to 4.1%.

The country's unemployment rate fell to 6.5 per cent last month, its lowest level since October 2008 as fewer youth searched for work. That is the longest such stretch since 1970, when the labor market was smaller. This population, which the Labor Department calls "involuntary part-time workers" declined by 281,000 to 5.3 million in April.



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