The U.S. Bureau of Labor Statistics reported this morning that 223k nonfarm payrolls were added during the month of April. This follows revised payrolls gains of 85k in March and 266k in February.
The Professional Services industry added the most jobs in April.
The Education and Health Services industry, the Leisure and Hospitality industry, and the Professional Services industry have contributed the most to job gains over the last 8 years. The Construction and Manufacturing sectors have had the most difficulty recovering from the economic downturn.
The household survey shows that 252k full-time jobs were lost in April, while part-time employment increased by 437k. Since November 2007, when the household survey showed peak employment, full-time jobs have decreased by 1.1 million and part-time jobs have increased by 3.0 million.
Part-time employees made up 18.68% of the workforce in April, up from 18.41% in March.
Those part-time for economic reasons, workers who would prefer to be full-time but are involuntarily part-time, as a share of those part-time for noneconomic reasons was 32.8%, down from 34.0%.
The unemployment rate (U-3) was 5.4% in April, a decrease from 5.5% in March. The broader unemployment rate (U-6) decreased to 10.8% from 10.9%.
The spread between the U-6 and U-3, or underemployment spread, was unchanged at 5.4%.
Youth unemployment continues to be volatile.
Unemployment for those with less than a high school diploma was unchanged at 8.6%.
Blacks continue to experience the highest unemployment rate at 9.6%.
The labor force participation rate increased to 62.8% from 62.7%, while the employment-to-population ratio was unchanged at 59.3%.
Participation among men increased to 69.4% from 69.3% and participation among women was unchanged at 56.6%.
The participation rate for prime age workers (25-54) increased to 81.0% from 80.9%.
Since the total participation rate peaked in August 2008, participation has only risen in the 55+ age bracket.
Average weekly hours worked by production and supervisory employees was unchanged at 33.7, while average hourly earnings increased to $20.90 from $20.88. Average hourly earnings have increased 1.85% from a year ago.
Average duration of unemployment in April was 30.8 weeks, up from 30.7. This metric reached a high of 40.7 in 2011, and is still elevated by historical standards.
Of those unemployed, 42.1% have been so for 15 weeks or longer.
Annual employment growth against real GDP growth: