The economy added 223,000 jobs in April while the unemployment rate fell slightly to 5.4 percent, according to the latest data from the Bureau of Labor Statistics. Analysts had expected 230,000 jobs to be added. The unemployment rate is now at a seven-year low.
Professional and business services added 62,000 jobs, while health care added 45,000 and construction added 45,000. Retail added 12,100 jobs and leisure and hospitality added 17,000.
Revisions to previous months meant 39,000 fewer added in the last two months than perviously reported, with March’s numbers revised down to 85,000.
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Average wages rose by 3 cents in April, or 0.1 percent, bringing average growth over the past 12 months to 2.2 percent.