May 4, 2007 (Jobs Byte)
Job Growth Slows in April
Jobs Byte by Heather Boushey
For Immediate Release: May 4, 2007
Contact: Lynn Erskine, 202-293-5380 x115
Wages are growing slower than inflation and weekly nominal earnings fell in April.
The economy added 88,000 new jobs last month and the unemployment rate
rose from 4.4 to 4.5 percent. Job growth for the prior two months was
revised down by 26,000, putting average job growth over the last three
month at just 118,000 jobs per month.
While health care continued to show strong job
growth (adding 37,000 jobs), there were job losses in retail (26,000),
manufacturing (19,000), and construction (11,000).
The past few months have seen wide oscillation in the reported number
of jobs in construction. This sector lost 11,000 jobs in April and
77,000 in February, but gained 34,000 jobs in January and 50,000 in
March. The job gains may be due to a warm winter in many parts of the
country, but the losses are the effects of falling sales in the housing
market. The sharpest declines in construction have been in residential
construction and contracting, with heavy and civil engineering being
the only sub-sector to see job gains.