U.S. Adds 88,000 Jobs In April

May 4, 2007
The manufacturing sector shed 19,000 jobs.

In a sign of weaker-than-expected economic activity, U.S. employers added 88,000 jobs in April, the government said May 4. It is the weakest reading since November 2004.

The unemployment rate ticked up a notch to 4.5%, in line with most analysts' forecasts, from 4.4% a month earlier, the Labor Department said.

The manufacturing sector shed 19,000 jobs.

The retail sector, especially large stores, lost 26,000 jobs.

The declines were offset by gains in other industries, particularly the service sector which boasted job growth of 24,000 new positions last month.

"Over the last 84 months, manufacturing has shed 3.2 million jobs. Were the trade deficit cut in half, manufacturing would recoup about 2 million of those jobs," explains Peter Morici, professor at the University of Maryland School of Business and former Chief Economist at the U.S. International Trade Commission. "Durable goods manufacturing remains robust but competition from Asian imports, benefiting from undervalued currencies and other subsidies, limits employment."

Sources: Agence France-Presse, IW Staff

Popular Sponsored Recommendations

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

Your Industry 4.0 Journey

Sept. 24, 2023
When It Comes to Industry 4.0, the Journey is the Destination. Industry 4.0 must be embraced as a long-term, strategic mindset of digital transformation that dynamically alters...

The Guide to Balancing Citizen Development and Governance in Manufacturing Operations

Sept. 19, 2023
Platforms with no-code capabilities provide a competitive advantage for manufacturers responding to rapidly changing disruptions and demands. This guide helps manufacturers maintain...

Lean Manufacturing in the Age of the Industrial Internet

Oct. 24, 2023
Read how advanced MES capabilities can help you improve your labor utilization, reduce WIP, and optimize your production. Download the white paper today.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!