The nation reported a net gain of 266,000 jobs on payrolls in April, according to the Bureau of Labor Statistics. This is the slowest job growth since January and is a fraction of the 770,000 jobs added in March.
The unemployment rate rose from 6% in March to 6.1% last month. The rate, which reflects the number of Americans seeking but unable to find work, may have been impacted by more Americans entering the job market this month. The labor force participation rate increased from 61.5% to 61.7%. The share of unemployed people who were out of work because they started seeking employment for the first time and had yet to land a job grew from 5.1% to 6.3%.
