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U.S. Payrolls Decline by 20k in April |
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US Economy |
Written by CEP News |
May 02 08 13:36 GMT |
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(CEP News) - U.S. nonfarm payrolls declined for the fourth consecutive month, falling by a total of 20k jobs in April, according to the Bureau of Labor Statistics on Friday. The unemployment rate reversed the previous month's uptick by falling back to 5.0%, lower than the expected 5.2%.
March's jobs figure was revised to a loss of 81k jobs from an initially-reported loss of 80k jobs. The consensus had been expecting a loss of 75k jobs in the month, with expectations looking for a loss as little as 18k and as large as 150k. The net change in manufacturing payrolls was -46k, following an unrevised loss of 48k jobs in the previous month. Average hourly earnings rose 0.1% from March and is up 3.4% on an annual basis. The average weekly hours worked remained at 33.7 after March's reading was revised from an originally reported 33.8 By Patrick McGee,
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, edited by Nancy Girgis,
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