The U.S. unemployment rate remained steady in April at 4.3%, with employers adding 115,000 jobs, according to the Bureau of Labor Statistics (BLS). Job gains were concentrated in health care, transportation and warehousing, and retail trade, while federal government employment continued to decline.

While headline unemployment was steady, the participation rate is an important companion indicator for overall labor market capacity and demand conditions. According to the BLS, the labor force participation rate declined for a fifth consecutive month in April, falling to 61.8%.

Read more: US Bureau of Labor Statistics