US Nonfarm Payrolls Climb by Steady 428,000

Source: US Labor Bureau

The United States nonfarm payroll growth and the unemployment rate were unchanged from the previous month in April, government data revealed. QQQ is down 0.74%, while SPY is down 0.68%.

• Total nonfarm payroll employment jumped by 428,000 in April, unchanged from the same increase recorded in March.
• Total private payrolls increased by 406,000, marking a slowdown from 424,000 the previous month.
• The goods-producing sector increased by 66,000, led mainly by manufacturing which grew by 55,000 in the month.
• The private service-providing industry recorded 340,000 additional jobs in April, led by education and health services which climbed by 59,000.
• Government payrolls for the month climbed by 22,000, rebounding from the 4,000 recorded in March but lower than the 51,000 recorded in April 2021.
• The unemployment rate was recorded at 3.6%, unchanged from the previous month and lower than 6.0% in April 2021.