Job growth slowed in the U.S. in the month of April, according to new data from the Labor Department.
Employers added 175,000 jobs in April, below projections and significantly lower than the 315,000 jobs created in March.
Wage growth has also slowed, from an annual pace of 5.1% at the start of the year to just 4.3%.
Both the unemployment rate, at 3.9%, and the number of unemployed people, at 6.5 million, changed little in April. The unemployment rate has now remained below 4% for 27 straight months -- the longest such streak since the 1960s, CBS News reported.
In April, job gains occurred in health care, social assistance, and transportation and warehousing, according to the Labor Department.
Health care added 56,000 jobs, in line with the average monthly gain of 63,000 over the prior 12 months. Employment continued to increase in ambulatory health care services (+33,000), hospitals (+14,000), and nursing and residential care facilities (+9,000).
Employment in social assistance increased by 31,000 in April, led by a gain in individual and family services (+23,000). Social assistance had added an average of 21,000 jobs per month over the prior 12 months.
Transportation and warehousing added 22,000 jobs, with gains in couriers and messengers (+8,000) and warehousing and storage (+8,000). Over the prior 12 months, employment in transportation and warehousing had shown little net change.
Employment in retail trade continued to trend up in April (+20,000). Over the prior 12 months, the industry had added an average of 7,000 jobs per month. In April, employment increased in general merchandise retailers (+10,000), building material and garden equipment and supplies dealers (+7,000), and health and personal care retailers (+5,000). Electronics and appliance
retailers lost 3,000 jobs.
Construction employment changed little in April (+9,000), following an increase of 40,000 in March. Over the prior 12 months, construction had added an average of 22,000 jobs per month.
Employment was little changed over the month in other major industries, including mining, quarrying, and oil and gas extraction; manufacturing; wholesale trade; information; financial activities; professional and business services; leisure and hospitality; and other services.
The Bureau of Labor Statistics on Friday also released data on changes in employment over the past year. According to the numbers, employment increased in 31 states from March 2023 to March 2024 and was essentially unchanged in 19 states and the District of Columbia. The largest percentage increases occurred in Idaho (+3.7%), Nevada (+3.4%), Alaska (+3.2%), and South Carolina (+2.8%). The largest job gains from March 2023 to March 2024 occurred in Texas (+270,700), California (+217,700), Florida (+211,100), and New York (+144,400).