Jobs Report: 160k Jobs Added in April

Posted by Paladin on May 05, 2016

An employment summary based on the U.S. Bureau of Labor Statistics’ (BLS) April 2016 monthly jobs report.

Economists predicted another month of 200k+ job additions ahead of this morning’s jobs report but the latest data told a different story. The Bureau of Labor Statistics announced 160,000 jobs were added in April and while this was below expectations, we still boast 65 straight months of positive job growth. Employment growth has averaged 232,000 per month.april jobs reportEconomists, and of course the Federal Reserve, were also keeping a close eye on this month’s wage growth. Wage growth has been one of the last and slowest pieces to labor-market recovery and a rise in wages would give the Fed  more confidence in their 2% inflation target. It also suggests that consumer spending will continue to drive economic growth.

Let’s break down the numbers from this month’s report:

  •  Wages:
    • $25.53 April
    • $25.43 March
      • + 8 cents month-over-month
      • +2.5% year-over-year
  • Unemployment:
    • 5.0% April
    • 5.0% March
      • +0% month-over-month
      • -0.4% year-over-year

In April, hourly wages rose $0.8 to$25.53 per hour, bringing the year-over-year wage percentage increase to 2.5%. The unemployment rate now sits at 5.0%.

april jobs report

In-Depth Look: Top Industries

Check out our analysis of some top industries:

  • Professional and business services
    • Month-over-month change: +65,000
    • 606,000 jobs added since April of last year
  • Construction
    • Month-over-month change: +1,000
    • +261,000 jobs added year-over-year
  • Manufacturing
    • Month-over-month change: +4,000
    • -19,000 jobs lost year-over-year
  • Health care
    • Month-over-month change: +44,000
    • +502,000 jobs added since April of last year
  • Legal Services
    • Month-over-month change: -1,500
    • +3,300 jobs added since April of last year

In-Depth Look: Creative and Marketing Jobs

Taking a closer look at the industries subsectors:

  • Motion Picture and Sound Recording
    • Month-over-month: +4,200
    • Year-over-year: +27,800
  • Broadcasting
    • Month-over-month: -700
    • Year-over-year: +100
  • Specialized Design
    • Month-over-month: +1,500
    • Year-over-year: +8,000
  • Advertising
    • Month-over-month: +3,600
    • Year-over-year: +16,400

The market remains extremely competitive for employers hoping to hire top professionals. But there are some things you can do to establish your business in the marketplace as a great place to work. To get ahead of your competitors and add exceptional professionals to your workforce, make sure you are offering a competitive salary. Request a free copy of our 2016 Salary Guide – a comprehensive resource for salaries across the industry – to get the latest salary insights that will help you hire the industries top professionals.

Posted in: Jobs Reports, Monthly Economic Reports

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