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U.S. labor market remains strong in April
The United States continues to have a strong labor market, but there are signs job growth is weakening. In April, total nonfarm payroll employment increased by 253,000 jobs, according to the Bureau of Labor Statistics; however, the job gains in February and March were revised downward to 248,000 and 165,000, respectively. With revisions, employment was lower than previously reported by 149,000 jobs.
By employment category, the biggest gains were in professional and business services (43,000 jobs), healthcare (40,000 jobs), and leisure and hospitality (31,000 jobs).
Loretta Clodfelter is senior editor of Institutional Real Estate Americas.