The United States saw a steady unemployment rate of 5.0 percent in April according to the Bureau of Labor Statistics’ unemployment report for the month. Job growth continues to increase with 160,000 new jobs created in April. Tech sector jobs experienced solid growth, claiming 31,100 of the total new jobs created in April.
Job Growth Exceeds Pace of Population Growth
Economists say the U.S. economy needs to add 100,000 jobs each month to stay on pace with population growth. The 160,000 jobs created in April may be less than the amount of jobs created in previous months, but it exceeds the amount of jobs we need to create in order to maintain the pace indicated by economists. Bottom line: our economy is still on the right track.
Revisions to previous months: The change in total nonfarm payroll employment for March was revised from +215,000 to +208,000, and the change for February was revised again from +245,000 to +233,000.
The average wage paid to U.S. workers continued to increase in April reaching a total of $25.53. This is an 8 cent increase compared with the average hourly earnings in March and a 2.5 percent increase year-over-year. This continues to confirm economists’ prediction of a 2016 wage increase.
Huge Gain in Tech Sector Jobs
The amount of jobs created in Professional, Scientific, and Technical Services nearly doubled in April with 65,000 jobs added during the month. In spite of the increase in job creation, the unemployment rate in this sector increased by 0.1 percent to 2.6 percent.
Most impressive is April’s growth in high paying tech fields: 7,300 jobs were created in Computer Systems Design and Related Services and 20,600 jobs were created in Management and Technical Consulting Services. These jobs contribute to the 3.4 percent growth in tech sector jobs compared with April 2015.
April Jobs Report Fast Facts
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