May 6, 2016
U.S. Labor Department report: Hiring slows nationally in April
WASHINGTON, D.C. – Despite market experts' expectations of job growth this spring, U.S. companies added only 160,000 jobs last month, according to the Labor Department's latest report.Economists surveyed by CNNMoney had predicted 197,000...
WASHINGTON, D.C. – Despite market experts’ expectations of job growth this spring, U.S. companies added only 160,000 jobs last month, according to the Labor Department’s latest report.
Economists surveyed by CNNMoney had predicted 197,000 jobs would be added. Goldman Sachs, meanwhile, expected 240,000.
Wells Fargo Chief Economist Sam Bullard said he thinks the economy is still moving at a moderate pace.
"I would not say totally dismiss the report, but the labor market is stronger than that 160,000 figure would suggest," he said, pointing to the jump in hiring in the business and white-collar jobs in April.
The national unemployment rate remained at 5 percent.
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