This report is outdated. Jobs and unemployment information for July 2016 can be found HERE!
The April 2016 Jobs Reports was released by the government's Bureau of Labor Statistics this morning, Friday, May 6. It was a mediocre report.
There were not as many new jobs as predicted, nor as many new jobs as there have been over the past few months.
The unemployment rate was unchanged at 5.0% mostly due to people leaving employment and leaving the labor force, though the number of people unemployed continued to decrease. In other words, it appears that people were leaving the labor force and leaving employment BY CHOICE.
- 160,000 total new payroll jobs; 171,000 new private sector jobs; a decrease of 11,000 in the number of government jobs.) These numbers are lower than the 202,000 jobs that the pundits and prognosticators predicted. Full-time/part-time breakdown will be available HERE later today.
- The BLS lowered their February and March estimates slightly. February numbers were decreased slightly by 12,000 to +233,000. March numbers were decreased slightly by 7,000 to +208,000. "With these revisions, employment gains in February and March combined were 19,000 less than previously reported. Over the past 3 months, job gains have averaged 200,000 per month."
- The unemployment rate stayed the same at 5.0% as the number of unemployed decreased slightly by 46,000 and as the number of people employed decreased by 316,000. We now have 7,920,000 officially unemployed. This is a slight increase from the previous 3-month average of 7,857,000 unemployed. As the result of people leaving employment and the labor force BY CHOICE, the labor force participation rate decreased from 63.0% to 62.8%.
Highlights and reports will be posted here starting this morning and throughout the weekend. Please check back!