Nonfarm payrolls rose by a seasonally adjusted 160,000 in April, the Labor Department said Friday. It was the weakest gain since September. The unemployment rate, obtained from a separate survey of U.S. households, held steady last month at 5%. Economists surveyed by The Wall Street Journal had forecast payrolls to rise by 205,000 and the jobless rate to remain at 5%.
The pace of job creation slowed so far in 2016 after consecutive years of robust gains. Yet, wage increases firmed and work week grew longer last month, both signs of solid underlying demand for labor despite slower hiring.. . . more