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Politics

National Unemployment Rate Unchanged at 5 Percent

May 6, 2016 - 11:30am

The U.S. added 160,000 jobs during the month of April, according to new figures released Friday from the U.S. Department of Labor Statistics. The unemployment rate held steady at 5 percent.  

The number of jobs added is the smallest number it's been since September of last year and the unemployment rate has remained the same over the last two months. 

Job gains have hovered around 200,000 a month since the beginning of the year. 

The report falls slightly off from what economists predicted the month would look like. They predicted to see an added 205,000 jobs and a slight decline of the unemployment rate at 4.9 percent. 

The Labor Department also had more disappointing news -- the workforce participation rate -- the number of people with jobs or who are actively seeking employment -- had also decreased slightly to 62.8 percent, down from 63 percent in March. 

The White House emphasized the positive aspects of the report, saying two-thirds of states have seen their unemployment rates fall below their pre-recession numbers. 

The participation rate has fallen since the recession, but some economists say it's because of changes in the economy while others contend it's because of retiring baby boomers. 

Professional and business services added the highest number of jobs, adding 65,000 jobs in April. Healthcare jobs grew by 44,000, with most of the increases occurring in hospitals and ambulatory services. 

The retail sector, a field which had been hiring steadily, cut around 3,000 jobs last month. 

Florida was one of the six states to see the largest increase in the unemployment rate during the recession, but now has an unemployment rate on par with the national average. 

In March, Florida's unemployment rate was 4.9 percent, a number lower than the national average but unchanged from February. 

New job numbers for Florida's economy and unemployment rate for the month of April are expected soon. 

 

 

Reach reporter Allison Nielsen by email at allison@sunshinestatenews.com or follow her on Twitter: @AllisonNielsen

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