Jobs Growth Accelerates in April, 211000 New Jobs Added

Jobs Growth Accelerates in April, 211000 New Jobs Added

Jobs Growth Accelerates in April, 211000 New Jobs Added

Hourly wages expanded by 0.7 per cent in April, the slowest year-over-year growth since the federal agency started collecting that data in January 1997.

"That's an indication that the economy is expanding at a steady clip in early 2017", he said.

Statistics Canada also points out that almost 8,800 more people started working in transportation and warehousing in Ontario last month.

Unemployment rates aren't the only useful measure of the job situation. The volatility of the month-to-month figures is one reason critics of the monthly U.S. Bureau of Labor Statistics unemployment data say not to put too much stock in the numbers. Economists had forecast first-time applications for jobless benefits falling to 247,000 last week.

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The official unemployment rate has hovered under 5 percent for a year.

The economy saw 211,000 jobs added in April, according to new government data released on Friday, May 5.

However, the new figures released by the US Labor Department on Friday also showed a decline in the labor force participation rate, dipping from 63 percent to 62.9 percent, which means that fewer Americans at working age were actually employed or seeking work.

Yet some economists noted that the gains made by the broader economy still do not appear to be translating into big wage increases for workers - something that many had expected by now. There was a decline in the participation rate to 65.6% from 65.9%. Annual wage gains firmed most of a year ago, reflecting increased competition for workers amid low unemployment. Wage growth is expected to post a solid 2.6% gain.

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"What you're seeing now is more minimum-wage type jobs", said Skip Aylesworth, a portfolio manager for Hennessy Funds. Average weekly hours were 38.7, up from March's 38.4.

Job gains were seen in mining and manufacturing, relatively small sectors that have been closely watched as a result of the Trump administration's vows to boost employment in those industries.

And retailers reversed a recent trend of job losses, adding 6,300 net new positions after cutting payrolls by 27,400 in March. Professional and business services payrolls rose by 39,000.

That number was almost triple the 4,200 jobs added in March, according to data released May 5 by Statistics Canada.

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