U.S. Employers Added 160,000 Jobs in April

     (CN) — U.S. employers adding 160,000 jobs in April, the fewest in the past seven months. However, the unemployment rate remained steady at 5 percent.
     While last month’s hiring is about 40,000 jobs lower lower than the average 200,000 jobs added over the past three months, the White House said the numbers continue to show the U.S. job market in growing at a steady pace.
     “The longest streak of private-sector job growth on record continued in April … well above the pace necessary to maintain a low and stable unemployment rate,” said Jason Furman, chairman of the Council of Economic Advisers.
     “U.S. businesses have now added 14.6 million jobs over 74 straight months of job growth. Most importantly, average hourly earnings for private employees have increased 3.2 percent at an annual rate so far in 2016,” Furman said.
     Average hourly wages rose 2.5 percent in April compared to a year earlier,.
     In its report Friday, the Bureau of Labor Statistics slightly revised down its estimate of job growth for February and March by a combined 19,000, although each month’s gain remained at a healthy level above 200,000.
     Across industries, job growth fell most sharply last month in retail, construction and governments. It also remained weak in the manufacturing sector.
     But job growth in higher-paid industries, such as management consulting and computer systems, rose from March.

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