New information from the BLS shows unemployment down 0.1% from last month
The Bureau of Labor Statistics showed unemployment down to 5.4% for the month of April, further decreasing the number of unemployed adults in the workforce. The labor markets added about 223,000 net new jobs in April, according to the Bureau of Labor Statistics.
The job growth is good news, especially after March’s relatively anemic 85,000 net new jobs, even fewer than the initial estimate of 126,000, making the month the weakest for job creation since 2012.
The percentage of adults in the workforce ticked up in April to 62.8%, still low historically, but higher than in March. Wage growth grew more slowly last month, with the average hourly earnings rising $0.03, as opposed to $0.06 in March.
The construction sector added 45,000 in April, while manufacturers added just 1,000 jobs and the mining industry shed 15,000 as it continues to deal with low oil prices.
Source: BLS
Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. The company or companies covered in this note did not review the note prior to publication. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.
