Economic Statistics for 6 May 16
Only 160,000 net new jobs were created in April, leaving the unemployment rate unchanged at 5.0%. The departure of 362,000 people from the labor force drove the labor force participation rate down -0.2% to 82.8%. Average weekly hours rose 0.1 hours to 34.5 hours, and average hourly wearing rose $0.08 to $25.53.
Consumer credit rose a sharp $29.7 billion in March, including a very strong $11.1 billion increase in revolving credit.