April's Employment Situation
On May 4, the U.S. Bureau of Labor Statistics reported that total nonfarm payroll employment increased by 164,000 in April and the unemployment rate dipped to 3.9 percent. The largest sector gains occurred in professional and business services (+54,000), manufacturing (+24,000), healthcare (+24,000), and mining (+8,000). Total nonfarm payroll employment for February was revised down from +326,000 to +324,000, and March's total nonfarm payroll employment was revised up from +103,000 to +135,000. Over the past 12 months, total nonfarm payroll employment has averaged a gain of 191,000 jobs per month. Read the full release.