U.S. job market posts stronger than expected numbers in April

By: 
Tom Hinde
Publisher

The U.S. economy added 211,000 job in April and the unemployment rate fell to its lowest level in a decade. The latest government data released Friday morning shows a rebounding economy. Economists were concerned after late month's dismal economic report.

The unemployment rate moved to 4.4 percent, the lowest level since May 2007. Average hourly earnings rose by 2.5 percent year-over-year. "The American job machine returned to form in April," said James Marple, senior economist at TD Economics. "The re-acceleration in jobs should assuage fears that economic growth is slowing in any meaningful way," said Marple.

The bulk of April's job gains were in the leisure and hospitality, education and health and business services sectors. Small gains were also posted in the mining and manufacturing sectors. The latter two sections are being closely watched by economists due to Trump Administration vows to boost employment in those industries.

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