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Economy Watch: Economy Gains 211K Jobs in April

12 May 2017

United States non-farm payrolls increased by 211,000 jobs last month, boosted mostly by hiring in the hospitality and healthcare sectors, bringing the country's unemployment rate down to 4.4 per cent, the lowest since May 2007.

The jobs market added 533,000 new positions during the first three months of the year, in line with first quarters in 2016 and 2015. Health care and social assistance employment increased by 36,800 jobs.

Construction hiring improved somewhat, with companies adding 5,000 jobs in April after a gain of just 1,000 the previous month.

In the week ending April 29, initial claims for unemployment insurance fell 19,000 to 238,000.

The unemployment rate dropped slightly to 4.4% - the lowest level in roughly ten years.

The U.S. central bank cited the slow-down in its decision Wednesday to leave its influential interest rate unchanged. "The Fed will respond accordingly". Professional and business services also saw an upward trend in employment, with 612,000 jobs added in the past 12 months.

Nonfarm payrolls increased by 211,000 jobs in April, beating estimates of 185,000.

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The data, released Friday morning, indicates quite a strong rebound that is likely to calm all the negativity about slow growth.

As more Americans find work and the labor market tightens, you can expect wages to rise because of the competition among employers to attract the remaining qualified job candidates.

While the labor force participation rate and long-term unemployment rate stayed flat, the number of workers employed part-time for economic reasons declined by 281,000 in April. For the year ended April 30, wages were up 2.5 percent.

The data for demographic groups came from a survey of households that is part of the Labor Department's monthly jobs report.

But StatsCan also reports wage growth stalled to its weakest in more than two decades.

Leisure and hospitality gained 55,000 jobs, the highest among industries according to the Friday report.

The stronger reading for the jobs market and the larger-than-expected drop in the jobless rate in April could help reassure the Fed to continue with its plan of raising interest rates twice more this year.

Economy Watch: Economy Gains 211K Jobs in April