The economy added 287,000 jobs in April while the unemployment rate rose to 4.9 percent, according to the latest data from the Bureau of Labor Statistics. Analysts had expected 175,000 jobs to be added.
The gains in June largely offset a very disappointing jobs report in May, when the economy added just 38,000 jobs. May’s report was revised even further down, however, to just 11,000 jobs, while April was revised up by 21,000 extra jobs. Average job growth between April and June was 147,000.
June’s job growth was driven by leisure and hospitality, which added 59,000 jobs; health care, which added 58,000 jobs; and the financial sector, which added 16,000 jobs. Professional and business services also added 38,000 jobs while retail added 30,000. The information sector added 44,000, partially reflecting the striking Verizon workers returning to the job after the strike was resolved.
While wages rose in June, it was minimal. They increase just 2 cents, after rising 6 cents in May, and average hourly earnings have risen 2.6 percent over the last year.