May 7, 2007 – Employers added just 88,000 jobs in April, the slowest pace in more than two years. Job loss continued in the manufacturing, construction, finance and retail sectors.
Wage growth also seems to be slowing. Hourly earnings were up 0.2% last month, and 3.7% over April 2006 – the slowest annual gain since last May.
“If these trends in payroll growth and employment rates worsen, the majority of households will find themselves increasingly squeezed,” an EPI report said.