Updated: 02-May-25 09:18 ET
| April Nonfarm Payrolls |
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| Updated: 02-May-25 09:18 ET |
Highlights
- Nonfarm payrolls increased by 177,000 in April, the unemployment rate held steady at 4.2% with a pickup in the labor force participation rate, and there was a moderation in wage inflation that the Fed will notice.
Key Factors
- April nonfarm payrolls increased by 177,000 (Briefing.com consensus 130,000). The 3-month average for total nonfarm payrolls increased to 155,000 from 133,000. March nonfarm payrolls revised to 185,000 from 228,000. February nonfarm payrolls revised to 102,000 from 117,000.
- April private sector payrolls increased by 167,000 (Briefing.com consensus 125,000). March private sector payrolls revised to 170,000 from 209,000. February private sector payrolls revised to 107,000 from 116,000.
- April unemployment rate was 4.2% (Briefing.com consensus 4.2%), versus 4.2% in March. Persons unemployed for 27 weeks or more accounted for 23.5% of the unemployed versus 21.3% in March. The U6 unemployment rate, which accounts for unemployed and underemployed workers, decreased to 7.8% from 7.9%.
- April average hourly earnings were up 0.2% (Briefing.com consensus 0.3%) versus 0.3% in March. Over the last 12 months, average hourly earnings have risen 3.8% versus 3.8% for the 12 months ending in March.
- The average workweek in April was 34.3 hours (Briefing.com consensus 34.2), versus an upwardly revised 34.3 hours (from 34.2 hours) in March. Manufacturing workweek was down 0.2 hours to 40.0 hours. Factory overtime was unchanged at 2.9 hours.
- The labor force participation rate increased to 62.6% from 62.5%.
- The employment-population ratio increased to 60.0% from 59.9%.
Big Picture
- The key takeaway from the report is that the employment situation in April remained relatively solid in spite of the volatility associated with the tariff actions and many castigations that they will hurt the economy. It is possible that will prove to be the case, but looking back at April, that wasn't the case in large part for the labor market.
| Category | APR | MAR | FEB | JAN | DEC |
| Establishment Survey | |||||
| Nonfarm Payrolls | 177K | 185K | 102K | 111K | 323K |
| Goods-Producing | 11K | 9K | 24K | -11K | 4K |
| Construction | 11K | 7K | 12K | -3K | 15K |
| Manufacturing | -1K | 3K | 8K | -5K | -10K |
| Service-Providing | 156K | 161K | 83K | 90K | 283K |
| Retail Trade | -2K | 22K | -4K | 36K | 34K |
| Financial | 14K | 6K | 15K | 14K | 12K |
| Business | 17K | 3K | 15K | -35K | 36K |
| Temporary help | 4K | -3K | -2K | -8K | 2K |
| Education/Health | 70K | 74K | 65K | 62K | 83K |
| Leisure/Hospitality | 24K | 38K | -34K | -14K | 47K |
| Government | 10K | 15K | -5K | 32K | 36K |
| Average Workweek | 34.3 | 34.3 | 34.2 | 34.1 | 34.2 |
| Production Workweek | 33.8 | 33.8 | 33.6 | 33.6 | 33.7 |
| Factory Overtime | 3.6 | 3.7 | 3.7 | 3.5 | 3.6 |
| Aggregate Hours Index | 0.1% | 0.4% | 0.3% | -0.2% | -0.1% |
| Avg Hourly Earnings | 0.2% | 0.3% | 0.2% | 0.4% | 0.2% |
| Household Survey | |||||
| Household Survey | |||||
| Civilian Unemp. Rate | 4.2% | 4.2% | 4.1% | 4.0% | 4.1% |
| Civilian Labor Force | 518K | 232K | -385K | 2197K | 243K |
| Civilian Employed | 436K | 201K | -588K | 2234K | 478K |
| Civilian Unemployed | 82K | 31K | 203K | -37K | -235K |
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