Shares of manufacturing and transportation companies rose slightly after a strong jobs report. The headline numbers--211,000 jobs added and a decade-low unemployment rate of 4.4%--concealed uneven growth in different sectors, according to one brokerage. "Although the headline nonfarm payrolls number signaled strong broad-based hiring, details showed that hiring activity was a bit lumpy in April," said analysts at Bank of America Merrill Lynch Global Research. "The goods-producing sector added 21,000 jobs with close to half the gains coming from the mining and logging sector while construction and manufacturing sectors lagged behind. Education and health and leisure and hospitality rebounded strongly while the professional business services sector gained a trend-like 39,000 jobs. In contrast, there were still some pockets of weakness with limited job growth in wholesale trade, transportation and warehousing and other services while payrolls declined in the information sector which reduced employment by 7,000."
-Rob Curran, firstname.lastname@example.org
Continue Reading Below
(END) Dow Jones Newswires
May 05, 2017 16:22 ET (20:22 GMT)