The U.S. Labor Departments monthly jobs report showed a decline in jobs in April, but the number was much better than what Wall Street was expecting, a possible sign that the economy is recovering.

The Labor Department said the U.S. economy lost 20,000 non-farm jobs in April, which brought the nation’s unemployment rate down to 5%. That was compared with Wall Street’s expectations for a loss of 75,000 jobs and an unemployment rate of 5.2%.

Construction employment fell by 61,000 jobs while the manufacturing sector lost 46,000 jobs in the month of April.

Service-sector employment rose 90,000 in April. Business and professional services companies added 39,000 jobs and the financial sector added jobs for the first time in nine months. Retail trade lost 26,800 payrolls.

Hourly wages increased $0.01, or 0.1%, to $17.88.

(Bureau of Labor Statistics / Fox News)