US Adds 115,000 Jobs in April, Unemployment Rate Holds

Summary

Michael McKee reviews the April US jobs report showing 115,000 payrolls added, unemployment steady at 4.3%, and average hourly earnings rising 0.2%. He notes the report is not inflationary and the Fed will view it as stable.

• US added 115,000 jobs in April, beating expectations but below March's revised gain.
• Unemployment rate held at 4.3%.
• Average hourly earnings rose 0.2% month-over-month, 3.6% year-over-year.
• Health care led job creation with 37,000 new positions.
• Transportation and warehousing added 30,000 jobs.
• Retail added 22,000 jobs while department stores lost 7,000.
• Federal government employment fell by 9,000 in April.
• The report is considered non-inflationary and unlikely to change Fed policy.