More than 400,000 jobs were added for the 16th consecutive month and the 12th consecutive month, but the increase began to slow down.
Most positions were added last month in the leisure and hospitality industry. Manufacturing, transportation and warehousing have also added quite a few jobs.
Workers also continued to return to the office. The percentage of Americans teleworking for a pandemic dropped from 10% in March to 7.7% in April.
Return to normal
Last month’s number 391,000 It Economists predicted slowing employment growth Naturally.
Daniel Zhao, Senior Economist at Glassdoor, said:
Signs of a cold labor market can be seen throughout the April report. For example, labor force participation fell from 62.4% in March to 62.2%, declining for both men and women.
The moderation of work recovery Partly because of the fact that the labor market has come a long way and has been forced to slow down at some point. Also, labor shortages make it more difficult to find workers to hire.
Companies are having a hard time finding staff, so they continue to raise wages to attract workers. Last month’s average hourly wage rose another 10 cents (0.3%) to $ 31.85. Wages have risen consistently since June 2020. Over the last 12 months, average hourly wages have risen 5.5%.
“The April report may not be as great as the recent release, but it still depicts a very strong labor market,” said Nick Banker, Indeed’s director of economic research, in an email. “Given how tight the labor market is, the current employment growth clip is noteworthy.”
Prior to the pandemic, the US economy added an average of less than 200,000 jobs during the Trump administration. Therefore, the constant alert that the Biden administration remains strong in its economy is undoubtedly true.
Inequality continues
The pandemic recession has passed in no time. But that doesn’t mean that American workers weren’t in pain.
However, not everything is back to normal in the United States.
Source: www.cnn.com
