"The fly in the ointment continues to be weak wage growth", said RBC senior economist Nathan Janzen in a note to clients.
The U.S. economy overall added 211,000 jobs in April, while the national unemployment rate dropped slightly to 4.4 percent, according to Friday's preliminary data. The number of people who were unemployed and looking for work fell to 15,700 from 16,600.
Mark Zandi, chief economist of Moody's Analytics, which helps compile the ADP report said: "Job growth slowed in April due to a pullback in construction and retail jobs".
After a slow March, when hiring likely was held down by a winter storm, the USA economic engine added an estimated 211,000 net new positions while the jobless rate fell a tenth to 4.4 percent, the lowest since May 2007. Surveyed by Bloomberg they anticipated 190,000 new job additions.
"This steady and sustained increase in job creation equals new paychecks for American workers and income for American families", Labor Secretary Alexander Acosta said in a statement Friday. By comparison, the USA has added 15.5 million jobs since 2010, a mark that includes significant catch-up from the mass layoffs of the financial crisis.
Government payrolls jumped 17,000 last month.
'May the Fourth Be with You': 'Star Wars' Fans Mark 40th Anniversary
Disney's aggressive theatrical schedule will feature three " Star Wars " titles in the next two years: Episode VIII, a.k.a. But all the franchise's live-action movie premieres in May, past and future take place in the latter weeks of the month.
The leisure and hospitality industry registered a 55,000 increase in jobs, education and health services was up 41,000, while finance rose by 19,000. Healthcare employment continued to trend up over the month (+20,000). More specifically, the overall unemployment rate might seem artificially lower than it actually is if fewer US citizens are working or actively looking for a job. The U.S. gained 522,000 jobs over that time.
There were job gains of 3,200 last month, though Statistics Canada considers that statistically insignificant. Over the year, financial activities has added 173,000 jobs. Water transportation employment was flat in April.
Only seven Canadian cities had a lower jobless rate. The release indicated that about 276,000 jobs were added in 12-month period.
One reason for the tepid wage gain is that hiring was strongest last month in lower-paying industries.
Average hourly wage growth remained muted, rising just 0.5 percent in April compared with a year earlier.





Comments