April Jobs Report Shows Steady Unemployment, Exceeds Expectations

The U.S. Bureau of Labor Statistics reported that the unemployment rate remained steady in April. Employers added 175,000 jobs to the economy, according to the report released Friday.

The number of new jobs exceeded projections anticipated by some analysts. The steady unemployment rate reflects a continuing trend in the labor market.

Mohamed El-Erian, chief economic advisor at Allianz and a professor at the Wharton School of Business, commented on the report, but specific details of his analysis were not available in initial reports.