The Bureau of Labor Statistics has released April’s job numbers, and there’s a lot to be happy about. Not only did the economy add more jobs than expected, but so did the number of people who currently want a job.
According to the report, the economy added 176,000 private sector jobs in April, and lost 11,000 public sector jobs for a total gain of 165,000 which brought the unemployment down to 7.5%. Economists and analysts were only expecting 135,000 new jobs added.
It also appears that less people have stopped looking for work, that number fell from 6.7 million to 6.4 million.
As per usual, now that new data is available the Bureau released revised numbers for the months previous. February’s numbers were adjusted from 268,000 new jobs to 332,000, and March was revised up from 88,000 new jobs to 138,000.
Employment growth in the economy was mostly driven by new job creation in professional and business services (+73,000), food services and drinking places (+38,000), retail trade (+29,000), and health care (+19,000).