USA unemployment rate drops to 10-year low as job growth rebounds

April jobs report tops expectations, unemployment rate falls to 4.4%
USA unemployment rate drops to 10-year low as job growth rebounds
Author

12 May, 2017

The U.S. job market saw a strong rebound in April, driving the unemployment rate to the lowest level in a decade.

The jobs market added 533,000 new positions during the first three months of the year, in line with first quarters in 2016 and 2015.

According to a private-sector report released Wednesday, service industries drove growth in April. The results in April show a rebound after worse-than-expected job growth in March. The unemployment rate for wholesales and retail trade decreased 1.1 points to 4.2 percent.

According to statistics released by Stats Canada on Friday, Northeast B.C. continues to see a drop in the unemployment rate while the rate across the country is the lowest since 2008.

"These days, the labor force participation rate is flat", said Andrew Chamberlain, chief economist at Glassdoor. "The Fed will respond accordingly".

Goods-producing industries added 4,200 jobs, led by increased hiring in the agriculture and natural resources sectors.

Recent GDP figures showed the United States economy grew at an annual rate of 0.7% in the first three months of this year, the slowest rate since the first quarter of 2014, raising concerns that the economy could be weakening.

Watchdog says ASEAN must stand vs. killings in Philippines
The People's SEA Campaign issued the statement on the eve of the ASEAN Summit in Manila slated April 26-29. He said the Philippines, which is ASEAN chair this year, could not alone force China to abide by it.


North Korea accuses US, South Korea of assassination attempt
Shim told the Daily Caller News Foundation that the expletive used by North Korea to criticize Gardner is "one of the worst". That citizen, identified only as Kim, was allegedly working in Russian Federation in the timber industry.


UP ATS arrests suspected ISI agent from Faizabad
Earlier, the Uttar Pradesh police had warned of a possible terror attack in the state by ISI-trained militants. IG Arun said pictures of the cantonment area in Faizabad have been recovered from Aftab’s mobile phone.


Despite overall employment growth, wage increase remained tepid.

Provincially, Alberta registered an unemployment rate of 7.9 per cent in April, that's down 0.5 per cent from 8.4 per cent the previous month.

The report also offers information on people who would like to work full-time but work part-time, as well as on those who are "marginally attached" - individuals who have not looked for a job in the last 12 months. Together, the revisions represent 6,000 fewer jobs than had been reported.

Several economists say April was a disappointing month for job growth in Canada.

The only weak point was a drop from 63.0 to 62.9 in the labor force participation rate, leaving the recovery just short of the finish line. Fed officials have signaled that they expect two more rate hikes this year, in addition to the one increase they made in March.

Average hourly earnings rose 2.5% year-over-year as of April, compared to 2.7% as of March.


More news


  • Concessions pave way for new South Korea leader

    The victor is expected to be sworn in on Wednesday, after the Election Commission releases the official result. She has been indicted on bribery, extortion and other corruption charges, which could see her jailed for life.

    Falling oil wipes out gains from Opec production cut

    Traders also remained cautious ahead of Friday's US government payrolls report, following March's underwhelming 98,000 figure. Both Brent and WTI futures are down around 17% for the year so far despite the OPEC effort to support prices.
    Eight militants die in U.S.  strike in Afghanistan

    Eight militants die in U.S. strike in Afghanistan

    Nicholson also said the current battle, mainly against Taliban forces but also against the Islamic State extremist group, was at a " stalemate ".
  • Afghan soldiers killed in border firing

    Afghan soldiers killed in border firing

    Kabul claims the villages are part of the war-torn country's Spin Boldak district, an assertion Pakistan flatly denies. He said Afghan border forces targeted civilians even though they had been informed about the on-going census exercise.
    Iowa Gov. Branstad signs abortion, voter ID bills into law

    Iowa Gov. Branstad signs abortion, voter ID bills into law

    The injunction enabled 44 women who were scheduled for abortions on Friday to keep their appointments. A signing ceremony is slated for 8:30 a.m., at the state Capitol building.
    Fired Fox radio reporter sues, claiming retaliation

    Fired Fox radio reporter sues, claiming retaliation

    She says she was relegated her to "secretarial" work and reporting on Moscow's decision to ban lace panties. Golloher alleges on April 17, she emailed Hirshman asking if she could talk about "issues at FOX".
  • Jose Mourinho and Manchester United Give Up on Top Four Finish

    Jose Mourinho and Manchester United Give Up on Top Four Finish

    Tuanzebe admitted that Mourinho " gave me on task to stay with Alexis " which is not an easy task. Marcus Rashford was an example and now I'm an example, Tim Fosu-Mensah and Scott are examples".
    Kim Kardashian and Kanye West launch new kids clothing line

    Kim Kardashian and Kanye West launch new kids clothing line

    ET/PT on E! Kim Kardashian says she is still living with fear eight months after the Paris robberyE! Kanye West's wife could not contain her tears and it was moved that she spoke.
    Neymar Ordered To Stand Trial

    Neymar Ordered To Stand Trial

    Neymar's career has skyrocketed at Barcelona , where he has excelled on the pitch alongside Lionel Messi and Luis Suarez. The decision to order Neymar to stand trial is another blow to the image of the Spanish giants and the player himself.
  • Funny Star Wars Day Tweets from a Galaxy Far, Far Away

    The Conservative party allegedly placed an ad in the London Evening News which read, "May the Fourth Be with You, Maggie". But it wasn't until years later (you know, because of the Internet) that the phrase truly took off.
    Nigerien President Reschedules Visit To President Muhammadu Buhari

    Nigerien President Reschedules Visit To President Muhammadu Buhari

    Thirteen prominent Nigerians on Monday signed a statement asking Buhari to take leave so he could take care of his health. They also persuaded her to draft a series of tweets asserting that the president's health was not as bad as perceived.
    'El Chapo' to remain in solitary confinement, US judge rules

    'El Chapo' to remain in solitary confinement, US judge rules

    Cogan said the restrictions were typical of solitary confinement and rejected a request for an Amnesty International visit. The judge similarly allowed his defenders' pre-cleared investigator to visit without an attorney present.