(CNN Business) –– Gone are the days of adding millions of jobs a month: The U.S. economy added 428,000 jobs in April, as it did in March, the Bureau of Labor Statistics (BLS) said on Friday.
Although this figure exceeds the estimate of 391,000 by economists, the slowdown in job growth is not surprising, in part, as the recovery has come a long way and at one point slowed down. And the shortage of staff has made it difficult to hire more people.
Last month, most jobs were added to the entertainment and hospitality sector. Production, transportation and warehousing added a significant number of jobs. By the time the epidemic began in February 2020, the country still had 1.2 million jobs less than its size.
The unemployment rate, which was expected to fall to an all-time low, remained stable at 3.6%.
On the other hand, weekly demands for unemployment benefits returned to pre-epidemic levels several months ago. According to data released Thursday, 200,000 workers filed initial unemployment claims last week, which is in line with seasonal changes. A figure slightly above the previous week’s expectations and levels.
The Department of Labor estimates that the number of workers who have applied for benefits for at least two consecutive weeks has fallen to a record low of less than 1.4 million since January 1970. The four-week average of this indicator was over 1.4 million, the lowest level since February 1970.
Inflation affects the hiring of new jobs in the United States
Meanwhile, the problem Inflation in the United States It has also affected new jobs. When consumers see rising prices for everything from food, rent, to petrol, companies need to raise wages to compete for efficiency. This strikes small companies particularly hard and means they would not be able to hire as much as they would otherwise.
In March, the nation a Record of 11.5 million jobs, According to BLS data earlier this week. The number of workers who left their jobs voluntarily rose to 4.5 million in March. Still, hiring more resignations in numbers.
News in development …
