PoliticsFriday 05.06.22

Decent BLS jobs report is out: 428,000 net new jobs in April, unemployment rate unchanged at 3.6%.

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U.S. job growth remained strong in April as the unemployment rate held steady at 3.6%, according to the monthly jobs report released by the Labor Department today.

According to the report, nonfarm payroll employment rose by 428,000 in April. The job growth was spread across leisure and hospitality, manufacturing and transportation, and warehousing.

The unemployment rate remained at 3.6% and showed nearing the pre-Covid era mark of 3.5% as reported in February 2020.

The White House released a statement by President Joe Biden today saying that the total number of jobs that were created since he took office has reached 8.3 million, a record number of jobs created in the first 15 months in office.

He said that the number of people relying on unemployment benefits dropped down from 20 million to 1 million since he took office, the lowest since 1970.

“We are building an economy that values the dignity of work,” he said.

 

 

Recount Wire

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