US Added 428,000 Jobs in April Despite Surging Inflation

May 6, 2022by Paul Wiseman, Associated Press Economics Writer
US Added 428,000 Jobs in April Despite Surging Inflation
A hiring sign is displayed at a restaurant in Schaumburg, Ill., April 1, 2022. (AP Photo/Nam Y. Huh)

WASHINGTON (AP) — America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs.

Friday’s jobs report from the Labor Department showed that last month’s hiring kept the unemployment rate at 3.6%, just above the lowest level in a half-century.


The economy’s hiring gains have been remarkably consistent in the face of the worst inflation in four decades. Employers have added at least 400,000 jobs for 12 straight months.


Yet it’s unclear how long the jobs boom will continue. The Federal Reserve this week raised its key rate by a half-percentage point — its most aggressive move since 2000 — and signaled further large rate hikes to come. As the Fed’s rate hikes take effect, they will make it increasingly expensive for consumers and businesses to borrow, spend and hire.


In addition, the vast economic aid that the government had been supplying to households has expired. And Russia’s invasion of Ukraine has helped accelerate inflation and clouded the economic outlook. Some economists warn of a growing risk of recession.

A+
a-

In The News

Health

Voting

Employment

June 29, 2022
by Tom Ramstack
Supreme Court Expands Veterans’ Rights to Sue States for Job Discrimination

WASHINGTON — A Supreme Court ruling Wednesday broadens the rights of veterans to sue state agencies for employment discrimination based... Read More

WASHINGTON — A Supreme Court ruling Wednesday broadens the rights of veterans to sue state agencies for employment discrimination based on their military service. The ruling revives a lawsuit by a former Texas state trooper who said he was forced out of his job because of... Read More

June 29, 2022
by Reece Nations
Companies Embrace Future of Work Trends Post-COVID

SAN ANTONIO — The pandemic may have been the catalyst for workplaces around the country to adapt and solve common... Read More

SAN ANTONIO — The pandemic may have been the catalyst for workplaces around the country to adapt and solve common issues experienced before COVID-19 forced companies to change their everyday operations. Although the economy has largely recovered from COVID-19 following unprecedented legislative action, some companies aren’t... Read More

June 29, 2022
by Dan McCue
Strong Growth in Energy Sector Jobs Spurred by Green Vehicle Manufacturing

WASHINGTON — Employment in the U.S. energy sector rose 4% last year, led by an increase in workers at firms... Read More

WASHINGTON — Employment in the U.S. energy sector rose 4% last year, led by an increase in workers at firms building electric and other low-emission vehicles, the U.S. Department of Energy said on Tuesday. In a new report, the department said employment in the manufacturing of... Read More

Fewer Americans File for Jobless Aid

WASHINGTON (AP) — Fewer Americans applied for jobless benefits last week as the U.S. job market remains robust despite four-decade... Read More

WASHINGTON (AP) — Fewer Americans applied for jobless benefits last week as the U.S. job market remains robust despite four-decade high inflation and a myriad of other economic pressures. Applications for jobless aid for the week ending June 18 fell to 229,000, a decline of 2,000... Read More

US Added 390,000 Jobs in May as Hiring Remained Robust

WASHINGTON (AP) — U.S. employers added a healthy 390,000 jobs in May, extending a streak of solid hiring that has... Read More

WASHINGTON (AP) — U.S. employers added a healthy 390,000 jobs in May, extending a streak of solid hiring that has bolstered an economy under pressure from high inflation and interest rates. Last month’s gain reflects a still-healthy job market despite concerns that the economy will weaken... Read More

Fewer Americans Apply for Unemployment Benefits Last Week

WASHINGTON (AP) — Fewer Americans applied for jobless aid last week with the number of Americans collecting unemployment at historically... Read More

WASHINGTON (AP) — Fewer Americans applied for jobless aid last week with the number of Americans collecting unemployment at historically low levels. Applications for unemployment benefits fell by 11,000 to 200,000 for the week ending May 28, the Labor Department reported Thursday. First-time applications generally track... Read More

News From The Well
scroll top