"Month over month, unemployment held steady at 4.3%, as the number of unemployed people was mostly unchanged at 7.4 million. Both measures have had little movement over the prior 12-month period. The majority of April's job gains occurred in health care (+37,000 jobs), transportation and warehousing (+30,000 jobs), and retail trade (+22,000 jobs). On the opposite end of the spectrum was federal government employment, which continued to decline with a loss of 9,000 jobs, as well as information employment (-13,000)."
"The construction sector added 9,000 jobs last month. More specifically, however, the residential building construction sector lost 1,500 jobs and residential specialty trade contractors shed 8,900 positions. The majority of the construction sector jobs gains occurred in nonresidential building construction (+5,600 jobs) and nonresidential specialty trade contractors (+12,600 jobs). Real estate also lost jobs in April, with employment falling by 1,700 jobs, while rental and leasing services employment fell by 3,600 jobs."
"Despite the top-line number for job gains, Mike Fratantoni, senior vice president and chief economist for the Mortgage Bankers Association (MBA), sees other indicators casting a shadow. The labor force participation rate has declined from 62.6 to 61.8 percent. The labor force, the total number of people either employed or actively looking for work and counted as unemployed, has declined by more than 1 million, he said in a statement. And the number of people employed has declined by more than 1.2 million."
"The U-6 measure, now at 8.2 percent, captures some of this shift in individuals leaving the labor force. But First American senior economist Sam Williamson views things a bit differently. Overall, the report shows few signs of labor-market deterioration and suggests that, after several months of noisy data, the job market may be finding a firmer floor, Williamson said in a statement."
Unemployment remained steady at 4.3% with unemployed people mostly unchanged at 7.4 million. Job gains in April were concentrated in health care (+37,000), transportation and warehousing (+30,000), and retail trade (+22,000). Federal government employment continued to decline (-9,000) and information employment fell (-13,000). Construction added 9,000 jobs overall, but residential building construction lost 1,500 jobs and residential specialty trade contractors shed 8,900 positions. Nonresidential building construction gained 5,600 jobs and nonresidential specialty trade contractors added 12,600 jobs. Real estate employment fell by 1,700 jobs and rental and leasing services fell by 3,600 jobs. Labor force participation declined from 62.6% to 61.8%, the labor force fell by more than 1 million, and employment fell by more than 1.2 million, with U-6 at 8.2%.
#unemployment #job-growth #labor-force-participation #construction-employment #labor-market-indicators
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