The Bureau of Labor Statistics (BLS) April unemployment number shows a very healthy labor market with the unemployment rate falling to 4.4 percent – the lowest in a decade. The market added 211,000 jobs exceeding expectations with monthly job growth averaging 185,000 thus far in 2017.
The Hispanic unemployment rate remained relatively unchanged at 5.2 percent up .1 percent from last month. Approximately 1.4 million Latinos are looking for work and experienced the largest decrease in their unemployment rate in March with little change in April. Last year in April, 2016 Hispanic unemployment stood at 6 percent.
BLS reports indicate the unemployment rate for black workers for the first time in a year went below 8 percent to 7.9 percent. While adult white men enjoy the lowest unemployment rate at 4.0 percent.
Overall there are 7.1 Americans looking for working and finding it mostly in the service sector that last month added the most jobs. Jobs in leisure and hospitality fueled job growth but gains in higher-paying industries like construction and manufacturing were not very strong in April. Manufacturing only added 6,000 jobs and construction 5,000 in April. The job-losing industry remains retailer with more marquee name retailer shutting their doors.
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