For Delivery: 9:30 A.M., E.D.T. — 2005-05-06

Advance copies of this statement are made available to the press under lock-up conditions with the explicit understanding that the data are embargoed until 8:30 a.m. Eastern Daylight Time. I appreciate this opportunity to comment on the labor market data we released this morning. Nonfarm payroll employment rose by 274,000 in April, and the unemployment rate held at 5.2 percent. The in- crease in payroll jobs followed revised gains of 300,000 in February and 146,000 in March. Over the month, employ- ment growth was widespread. Notable gains continued in construction, mining, food services, and health care. Among the goods-producing industries, construction employment rose by 47,000, continuing the strong growth trend of the last 2 years. Most of April's increase oc- curred in specialty trade contracting (40,000), with gains in both its residential and nonresidential components. Mining added 8,000 jobs in April.