April Payrolls Smash Expectations After Huge Downward Revisions; Black Unemployment Hits Record Low

Of note, the unemployment rate for blacks dropped to a record low. Employment in temporary help services continued to trend down over the month (-23,000). Over the month, employment continued to trend up in ambulatory health care services (+24,000), nursing and residential care facilities (+9,000), and hospitals (+7,000). Employment in leisure and hospitality continued to trend up in April (+31,000), largely in food services and drinking places (+25,000). Leisure and hospitality had added an average of 73,000 jobs per month over the prior 6 months.