Chart of the Day: Net New Jobs in April

The American economy gained 263,000 jobs last month. We need 90,000 new jobs just to keep up with population growth, which means that net job growth clocked in at 173,000 jobs. The unemployment rate declined to 3.6 percent.

It’s an odd jobs report this month. The size of the labor force dropped by almost half a million, and both the number of employed people and the number of unemployed people went down. The employment-population ratio remained unchanged from last month. Still, job growth was pretty strong, and our economic expansion appears to be rolling along without any letup.

Average hourly earnings of blue-collar workers went up at an annualized rate of 3.8 percent compared to March, which is very good considering that the inflation rate is very low. Here’s the year-over-year growth in blue-collar wages over the past few years:

The last six months have all seen wage growth higher than 1 percent. That’s pretty good if we can keep it up.

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DEMOCRACY DOES NOT EXIST...

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In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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