U.S. adds fewer jobs than expected in April
Unemployment remained at 8.1 percent for the month, the Bureau of Labor Statistics announced this morning.
Friday’s report is just one of several signs this week that the U.S. economy slowed in April. On Wednesday, Automatic Data Processing Inc. estimated that the private sector added 119,000 jobs in April, a figure lower than economists’ forecasts. On Thursday, the Institute for Supply Management said service industries expanded less in April than initial estimates, according to Bloomberg.
“The labor market is gradually improving, but I wouldn’t want to call it strong by any stretch,” said Julia Coronado, chief economist for North America at BNP Paribas, in an interview with Bloomberg. “I don’t think this is reassuring for the Fed, though it’s not catastrophic either.”
The transportation and warehousing industries were the only two in which employment declined in April, according to the Bureau of Labor Statistics. April’s job growth numbers were the lowest in six months, following an increase of 156,000 jobs in March.