Posted May 6, 2024

Unemployment changes little for wholesale trade

Total nonfarm payroll employment increased by 175,000 in April, and the unemployment rate changed little at 3.9%, the U.S. Bureau of Labor Statistics reported.

Job gains occurred in health care, in social assistance, and in transportation and warehousing.

The labor force participation rate held at 62.7% in April, and the employment-population ratio was little changed at 60.2%. 

In April, transportation and warehousing added 22,000 jobs, with gains in couriers and messengers (+8,000) and warehousing and storage (+8,000). Over the prior 12 months, employment in transportation and warehousing had shown little net change.

Employment in retail trade continued to trend up in April (+20,000). Construction employment changed little in April (+9,000), following an increase of 40,000 in March. Over the prior 12 months, construction had added an average of 22,000 jobs per month.

Employment was little changed over the month in other major industries, including mining, quarrying, and oil and gas extraction; manufacturing; wholesale trade; information; financial activities; professional and business services; leisure and hospitality; and other services.