Published: Thu, May 18, 2017
Money | By Armando Alvarado

U.S. transportation employment growth continues in April

U.S. transportation employment growth continues in April

In its monthly employment report, the U.S. Department of Labor's Bureau of Labor Statistics showed that 1,124,100 people were working in the legal services sector in April, up from 1,123,000 in March.

Unemployment in the United States fell to a 10-year low in April as 211,000 people joined the workforce and the jobs market bounced back from a winter chill that had led to speculation the recovery in the jobs market had stalled. It could also weaken its case for another interest rate increase as soon as June. Jobs were added in leisure and hospitality (55,000), health care and social assistance (37,000), financial activities (19,000), and mining (9,000) industries.

The data point to a stronger growth by the USA economy in the second quarter after a slow first quarter, the Los Angeles Times said Friday.

The low unemployment rate captures how far the USA economy has come since the Great Recession ended in 2009, when unemployment hit 10%. The economy added 211,000 jobs last month.

April's report showed other signs of progress.

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While the number of jobs added was relatively small in April, one-month does not make a trend and the recent employment picture has been strong.

However, BMO's chief economist, Douglas Porter, noted that even with the slowing growth in the country, "full-time employment is still up 1.3% from a year ago, a solid tally by any measure".

With unemployment as low as it is, firms may have a harder time hiring and job growth could slow by the end of the year, Mr Faucher said. While wage growth is picking up, it's well below where the Federal Reserve would like to see it - 3.5 percent. Somewhat strangely, the decline in unemployment and rise in job creation was accompanied by a tick downward in the labor force participation rate to 62.9 percent. The number of discouraged workers was 450,000, falling for the third straight month.

Among other important data released in the report are jobs added and lost in major industries. For historical perspective, wage gains have averaged 2.7 per cent over the past decade.

Average hourly earnings for private-sector workers rose 2.5% in April compared with a year earlier.

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