Labor market growth in April matched March's slow pace, with nonfarm payroll employment rising 142,000. Although this figure was weaker than expected, overall indicators continue to show strength. The unemployment rate fell from 5.2% to 4.9% - its lowest level in more than 23 years - while the employment-to-population ratio was unchanged from March's record high.
Suggested citation: “Labor Markets,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-05, pp. 12, 05.01.1997.