Unemployment reaches 10-year low in April

Unemployment reached a new 10-year low in April, hitting 4.4% as the U.S. economy added 211,000 jobs for the month.

The number of unemployed persons, at 7.1 million, changed little in April, though it has fallen by 854,000 over the last year.

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 1.6 million in April, but it was down by 433,000 over the year.

The labor force participation rate, at 62.9 percent, also changed little in April and has shown little movement over the past year.

The number of persons employed part time for economic reasons declined by 281,000 to 5.3 million in April, however, and 1.5 million persons were marginally attached to the labor force, down by  181,000 from a year earlier. The number of discouraged workers was also down by 113,000 over the year to 455,000 in April.

Industry-wise, the most job gains occurred in leisure and hospitality (55,000), professional and business services (39,000), food services and drinking places (26,000), health care and social assistance (37,000), financial activities (19,000), and mining (9,000).

Building material and garden supply stores lost 5,100 jobs last month, however, and residential building lost 2,700.

Additionally, the change in job gains was revised up from +219,000 to +232,000 in February, and the change for March was revised down from +98,000 and +79,000.