The U.S. economy added 428,000 jobs in April, topping the market forecast of 391,000, according to the Bureau of Labor Statistics (BLS). The unemployment rate was unchanged at 3.6 percent.
Average hourly earnings rose at an annualized rate of 5.5 percent. On a month-over-month basis, average hourly earnings edged up 0.3 percent, or 10 cents, to $31.85. Average weekly hours held steady at 34.6. The labor force participation rate dipped to 62.2 percent.
The employment gains were broad-based, led by leisure and hospitality (+78,000), education and healthcare (+59,000), manufacturing (+55,000), and transportation and warehousing (+52,000).
Professional and business services added 41,000 positions, while financial services created 35,000 new jobs. Retail trade picked up 29,200 jobs, wholesale trade tacked on 22,200 jobs, and information employment rose 12,000. Mining and construction jumped 9,000 and 2,000, respectively.
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