April job report echoes pre-pandemic conditions

The U.S. economy added 428,000 jobs in April, led by gains in leisure and hospitality, manufacturing, transportation and warehousing, according to the monthly statement from the U.S. Bureau of Labor Statistics.

“The unemployment rate remained at 3.6 percent in April, and the number of unemployed persons was essentially unchanged at 5.9 million,” according to the statement. “These measures are little different from their values in February 2020 (3.5 percent and 5.7 million, respectively), prior to the coronavirus pandemic.

“Both the labor force participation rate, at 62.2 percent, and the employment-population ratio, at 60.0 percent, were little changed over the month. These measures are each 1.2 percentage points below their February 2020 values.”