April Job Labor Report Shows Slowest Growth Since 2004

Employers added fewer jobs in April than at anytime in more than two years, as shown in the government's monthly report, released today. The report shows a net gain of 88,000 jobs in April, down from the revised gain of 177,000 job last month.

It was the smallest gain in jobs since November 2004, when there was only a 65,000 jobs gain.

The construction slowdown, hit by the decline in home building, claimed 11,000 jobs, while manufacturing employment fell by 19,000.

Retailers also trimmed 26,000 jobs from their payrolls in the report, with the greatest weakness in general merchandise retailers, which include discount and department stores.

The U.S. Department of Labor report also showed the unemployment rate edging up a tenth of a percent from March, to 4.5. Hourly wages crept up 4 cents, to $17.25.

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