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U.S. Jobs Growth Rate Slows
The U.S. added 160,000 jobs in April, compared with downwardly revised totals of 215,000 in March and 233,000 in February, according to the U.S.
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The U.S. added 160,000 jobs in April, compared with downwardly revised totals of 215,000 in March and 233,000 in February, according to the U.S. Dept. of Labor. The unemployment rate was unchanged at 5.0%.
Analysts describe last month's gain as “disappointing.” The jobs news comes a week after the U.S. Dept. of Commerce reported that America’s gross domestic product grew only 0.5% in the first quarter of 2016.
Many economists say the slowing growth rates may prompt the Federal Reserve to forego another interest rate hike when it revisits the option in June. The central bank raised rates last December for the first time in 10 years.
April’s results mark the 74th consecutive month of private-sector job growth. The Labor Dept. says the run has added 14.7 million jobs, offsetting the 8.7 million positions lost in 2008-2009 during the Great Recession. But critics notes that wages barely increased, drawing into question the quality of the jobs being added.
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