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May 05, 2006
Payroll Growth Slows, Wages Rise

Payroll employment increased by 138,000 in April and the jobless rate stayed at 4.7 percent, the Department of Labor's Bureau of Labor Statistics reported.

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Meanwhile, average hourly earnings of production or nonsupervisory workers on private payrolls increased by 9 cents in April to $16.61, seasonally adjusted. This followed gains of 5 cents in March and 7 cents in February.

Average weekly earnings increased by 0.8 percent in April to $563.08. Over the year, average hourly earnings increased by 3.8 percent and average weekly earnings increased by 4.1 percent.

The 3.8 percent increase in average hourly earnings over the year was the biggest since 2001, Reuters reports.

The average workweek for these increased by 0.1 hour to 33.9 hours in April, seasonally adjusted. The manufacturing workweek was unchanged at 41.1 hours, while factory overtime fell by 0.1 hour to 4.5 hours.

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