Rebecca Byrne

Tape Measures Fed's Nerve

 

The jump in employment last month was due to a substantial increase in several service-providing industries, the Labor Department said. Jobs were also added in the construction and manufacturing sectors.

Manufacturing employment rose by 21,000 in the month, with most of the gain (20,000) coming from durable goods manufacturing. Construction added 18,000.

Professional and business services employment rose by 123,000 in April. Within employment services, temporary help services added 35,000 jobs in April. Retail trade has added 103,000 jobs and employment increased by 30,000 in health care and social assistance over the month. Food services added 34,000 jobs.

Average hourly earnings rose 0.3%, slightly above economists' 0.2% estimate. The average workweek held steady at 33.7 hours but total hours worked rose by 0.3%. The factory workweek fell by 0.3 hours to 40.6 hours.

A separate survey of households showed that 278,000 jobs were added last month. The household survey covers about 60,000 homes while the payroll survey covers over 400,000 businesses. The number of unemployed workers who have been out of work for six months or more fell by 188,000 to 1.8 million.

>To order reprints of this article, click here: Reprints

TheStreet Premium Services

Jim Cramer
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn More
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
Dow Jones S&P 500 NASDAQ 10-Year Note
12,419.86 1,313.32 2,837.36 16.25
Oil *
103.00
DOWN
160.83
DOWN
19.10
DOWN
33.63
DOWN
1.06
10 Yr
1.62%
SPDR Gold
151.91
-1.28%
-1.43%
-1.17%
-6.12%
Data delayed 20 minutes

Top Stories and Tools

Articles From

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy.
Podcasts

Connect with TheStreet