The labor force participation rate edged up slightly to 62.6% from 62.5%, and the employment-population ratio rose to 60.0% from 59.9%. The broader U-6 unemployment rate—which includes discouraged workers and part-time employees seeking full-time work—fell to 7.8%, down from 7.9% in March.
Job gains surpass expectations
Average hourly earnings for all employees on private nonfarm payrolls rose by $0.06, or 0.2%, to $36.06 in April—slightly below the expected 0.3% increase. This followed a 0.3% rise in March.
For production and nonsupervisory employees, average hourly earnings rose by $0.10, or 0.3%, to $31.06. Year-over-year, wages grew by 3.8%, unchanged from March but just below forecasts of 3.9%.
Other job figures
The U.S. economy added 177,000 jobs in April, beating market forecasts of 130,000 despite slowing from March’s revised 185,000 gain. The monthly average over the past year now stands at 152,000.
