Friday, May 6, 2016

Hiring Slows Down but Wages up in April

The U.S. economy added 160,000 jobs in April according to the Bureau of Labor Statistics. Average hourly earnings increased to 8 cents which amounts to $25.53/hour. Unemployment stays steady at 5%. Those jobs that gained the most are professional and business services, health care, and financial activities while mining jobs shrunk.

The economy is starting to shift and job creation was slower than what most analysts expected. Contraction on lending and slowing down of investments might have an impact on job growth and economic expansion. If job growth continues to slow down it is likely that wage growth will also take a hit latter in the year. 

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