USA transportation employment growth continues in April

USA transportation employment growth continues in April

The US Department of Labour said that businesses had created 211,000 new jobs which is a surge from the 79,000 new posts in March.

This jobs report bolsters that interpretation, with gains across industries - even in sectors such as retail, which struggled earlier in the year, according to Gus Faucher, chief economist for PNC Financial Services. Wage growth disappointed, but that does not line up with other labor market indicators and will be something we will continue to watch.

Fed policymakers held its key interest rate steady this week but signaled that they remained on pace for two more small hikes this year, a vote of confidence for stronger economic growth.

Manufacturing added 6,000 jobs in April, losing 3,000 in durable goods manufacturing and adding 9,000 in nondurable goods.

An economist said that the hiring freeze by federal agencies from the latter part of January to the middle of April helped to curtain staff additions in the government in April by up to 10,000.

Growth and employment prospects in the U.S. have been much better than in Europe, the other major advanced economic bloc.

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At 4.4 percent, the headline unemployment rate - which measures people who are actively looking for work but unable to find it - is now below the longer-term level targeted by the Federal Reserve.

Following lower job growth in March, federal economists also reported that the USA economy expanded at its slowest pace in three years in the first quarter, a figure attributed to persistent measurement issues.

This is not to say the administration can take credit or blame for the job market's performance: These are just the job gains that occur during Trump's presidency. The U.S. gained 522,000 jobs over that time.

Wages grew seven cents an hour to an annualized pace of 2.5 percent, a decline from March's 2.7 percent rate.

Chair Janet Yellen has noted that the unemployment rate is close to full employment.

The employment-to-population ratio rose one-tenth of percentage point to a fresh eight-year high of 60.2 percent. April job gains were solid in most industries and particularly strong in leisure and hospitality, professional and business services, as well as mining. The increase in US transportation sector hiring follows revised gains of 6,600 jobs in March and 7,600 positions in February and a 10,200-job loss in January.

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