US Unemployment Rate Ticks Up to 3.9 Percent in April
May 5, 2024 Hour: 7:31 am
On Friday, the U.S. Labor Department reported that U.S. employers added fewer-than-expected 175,000 jobs in April, with the unemployment rate again ticking up to 3.9 percent.
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Job gains occurred in health care, social assistance, and transportation and warehousing, according to the department’s Bureau of Labor Statistics (BLS).
Total nonfarm payroll employment rose by 175,000 in April, lower than the average monthly gain of 242,000 over the prior 12 months
In February, the unemployment rate increased to 3.9 percent, the highest level in two years, before slightly dropping to 3.8 percent in March.
This is absolutely priceless. And probably the most frightening clip you’ll ever watch on the people in charge of the US economy.
Jared Bernstein is literally the Chair of the Council of Economic Advisers, the main agency advising Biden on economic policypic.twitter.com/1b31FPFPCQ
— Arnaud Bertrand (@RnaudBertrand)
May 3, 2024
The bureau noted that the unemployment rate has been in a narrow range of 3.7 percent to 3.9 percent since August 2023.
The change in total nonfarm payroll employment for February was revised down by 34,000 to a gain of 236,000, and the change for March was revised up by 12,000 to a gain of 315,000.
With these revisions, employment in February and March combined is 22,000 lower than previously reported.
In April, average hourly earnings for all employees on private nonfarm payrolls increased by 7 cents, or 0.2 percent, to US$34.75. Over the past 12 months, average hourly earnings have increased by 3.9 percent.
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Autor: teleSUR/ JF
Fuente: Xinhua