April Jobs Report: Unemployment Rate Drops Below 4 Percent

by Katie Brock on May 7, 2018

national jobs reportThe unemployment rate decreased 0.2 percent in April to 3.9 percent. A total of 164,000 jobs were created during the month.

Unemployment Rate Declines

After six consecutive months of a stagnant unemployment rate, April’s 0.2 percent dropped marks a month of change for unemployment. For the first time since 2000, the unemployment rate dropped below 4 percent. The rate has declined 0.5 percent over the past year, decreasing the number of unemployed by 675,000. The average number of jobs created averaged 207,667 per month over the past three months.

Wages Continue to Grow

Over the past year, average hourly earnings have risen 67 cents (2.6 percent). Wages saw a 4 cent raise in April bring the average hourly earnings for all employees on private nonfarm payrolls to $26.84.

Steady Gain of Tech Jobs

The professional and business services sector added 54,000 jobs in April, with 25,800 of those jobs attributed to professional and technical services.

The specific areas seeing the most growth in the professional and technical services sector include:

  • Computer systems design and related services (+6,700 jobs in April 2018)
  • Architectural and engineering services (+5,200 in April 2018)
  • Accounting and bookkeeping services (+3,100 jobs in April 2018)

The unemployment rate for professional and technical services dropped in April to 1.9 percent.

Engineering and Tech Salary Guide

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