US Economy Added 428,000 Jobs in April; Unemployment Steady at 3.6%

Headline Roundup May 6th, 2022

The U.S. economy added 428,000 jobs last month, beating economists' expectations, according to the Bureau of Labor Statistics.

April's unemployment rate was 3.6%, the same as March. The U.S. economy has now added 400,000 or more jobs in 12 straight months; economists surveyed by news sources on all sides expected roughly 390,000 new jobs in April. The labor force participation rate fell 0.2 percentage points in April to 62.2%, matching the lowest level recorded in 2022. Wages rose 0.3 percentage points on average from March and 5.5% for the year ended in April. 

The biggest job gains by industry were in the leisure and hospitality industry (78,000), manufacturing (55,000), and transportation and warehousing (52,000). The nation has recovered 20.8 million of the 22 million jobs lost early in the COVID-19 pandemic, and is now 1.2 million jobs short of its pre-pandemic level. 

The jobs data was covered prominently by news sources across the political spectrum. Both left-rated and right-rated sources tended to frame the data as a good sign for the labor market. Some coverage from the right highlighted other ongoing economic concerns, such as high inflation and the smaller U.S. workforce.

From the Center
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Strong hiring in the manufacturing, transportation and warehousing and health-care sectors during April helped the U.S. economy notch its 12th straight month of job gains of 400,000 or more.

The U.S. economy added 428,000 jobs last month, the Labor Department reported Friday, the same gain as in March and following a jump of 714,000 in February and 504,000 in January.

Manufacturing, the industry that saw the largest one-month pop in job gains, added 55,000 jobs during the first month of the second calendar quarter.

Government economists said the majority of manufacturers’...

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From the Right
302

The U.S. economy saw solid job growth in April, suggesting the labor market is still strong despite headwinds from rising interest rates, soaring inflation, a worsening labor shortage and fears of a slowdown. 

Employers added 428,000 jobs in April, the Labor Department said in its monthly payroll report released Friday, beating the 391,000 jobs forecast by Refinitiv economists. It marked the 12th consecutive month that job gains topped 400,000. The unemployment rate, meanwhile, held steady at 3.6%, the lowest level since February 2020.

Job gains were broad-based, with the biggest increases in the...

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From the Left
302

Employers added 428,000 jobs in April, extending a streak of booming payroll gains despite a recent uptick in COVID-19 cases, persistent worker shortages and the war in Ukraine.

The unemployment rate was unchanged at 3.6%, the Labor Department said Friday.

Economists surveyed by Bloomberg had estimated that 390,000 jobs were added last month.

The nation has recouped 20.8 million, or 95%, of the 22 million jobs lost early in the health crisis, leaving it 1.2 million jobs short of its pre-pandemic level. The deficit could be closed by summer.

Job growth averaged more than half a...

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