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US Hiring Rebounds1 in April; Unemployment Dips to 5.4%
The U.S. job market rebounded2 in April, with strong growth in business services, health care and construction, Friday's report from the Labor3 Department said. The unemployment rate dipped to 5.4 percent, the lowest level in nearly seven years, as 223,000 jobs were added.
After the weak job gains in March, when fewer than 100,000 people were hired, the second quarter is off to a good start, Bankrate.com's chief financial analyst4 Greg McBride told VOA.
"The April jobs report shows we are back on track," he said. "It really reveals that March was the aberration5 — that was the month where the results were very poor, and they were revised lower with [Friday's] release. But, you know, April really kind of gets us back in the game."
April's job numbers were an encouraging sign for investors6, who helped boost stock prices on Wall Street by more than 1 percent. Adding to the optimism was the fact that average hourly earnings7 increased, but just barely. At just 3 cents more per hour, McBride said, it's a step in the right direction, but not enough to significantly boost growth.
"People don't have enough spending power," he said. "They don't have enough breathing room in the household budget, and that's why we've had this perpetually slow-growth economy — because consumers are not in a position where they can ramp8 up spending on a consistent basis."
Until employers start ramping9 up wages, McBride said, the housing market is likely to remain sluggish10. Part of the problem, according to the National Association of Business Economics' Ken11 Simonson, is inertia12.
"Employers have been very cautious about hiring people, raising wages, and workers are also nervous that a job won't last," he said, "so it's made them less aggressive about pushing for wage increases in their current job or changing jobs."
That could change as competition for skilled workers heats up.
The new jobs data show about 8.5 million Americans are still out of work, but that's down more than 1 million from a year ago.
1 rebounds | |
反弹球( rebound的名词复数 ); 回弹球; 抢断篮板球; 复兴 | |
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2 rebounded | |
弹回( rebound的过去式和过去分词 ); 反弹; 产生反作用; 未能奏效 | |
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3 labor | |
n.劳动,努力,工作,劳工;分娩;vi.劳动,努力,苦干;vt.详细分析;麻烦 | |
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4 analyst | |
n.分析家,化验员;心理分析学家 | |
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5 aberration | |
n.离开正路,脱离常规,色差 | |
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6 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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7 earnings | |
n.工资收人;利润,利益,所得 | |
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8 ramp | |
n.暴怒,斜坡,坡道;vi.作恐吓姿势,暴怒,加速;vt.加速 | |
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9 ramping | |
土堤斜坡( ramp的现在分词 ); 斜道; 斜路; (装车或上下飞机的)活动梯 | |
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10 sluggish | |
adj.懒惰的,迟钝的,无精打采的 | |
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11 ken | |
n.视野,知识领域 | |
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12 inertia | |
adj.惰性,惯性,懒惰,迟钝 | |
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