US Economy Adds 165,000 Jobs in April

Analysts were surprised by April’s jobs report from the Bureau of Labor Statistics, which was contrary to many projections of doom following March’s uninspiring numbers. And speaking of numbers, 165,000 jobs were added in the month of April. Getting back into the triple digits after March’s dip into doubles bodes well for the continued strength of the recovery. Despite a recent payroll tax increase, global financial uncertainty and the government’s sequestration, the recovery continues on, more or less uninterrupted. The industries that hired the most in April were Hospitality (43,000), Temp Services (30,800), Retail (29,300), Health Care (19,000) and Professional and Technical Services (22,800). The sectors that performed poorly in April were in the government and in Manufacturing/Construction. We all knew that major government lay-offs were on the way due to sequestration, so it was no surprise to see 11,000 jobs lost from the federal work force. Construction lost 6,000 jobs and Manufacturing had a net gain of 0 jobs. To read the report from the BLS, click the link below.

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