Economics
Employers in U.S. Take on Fewest Workers in Seven Months
- Retailers, construction companies pull back after recent gains
- Jobless rate was unchanged at 5%, while worker pay accelerated
U.S. Adds 160,000 Jobs in April, Jobless Rate at 5%
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Employers in April added the fewest number of workers in seven months and the U.S. jobless rate held steady as subdued economic growth prompted a more moderate rate of hiring.
The 160,000 gain in payrolls followed a revised 208,000 rise in March, a Labor Department report showed Friday. The median forecast in a Bloomberg survey called for a 200,000 April advance. The jobless rate, projected to ease, stayed at 5 percent, while wage growth accelerated.