A Closer Look at the April Jobs Report
Eddy Elfenbein submits: The April jobs report came out this morning. The economy added 244,000 jobs last month. For March, the jobs gain was revised higher to 221,000.
As has been the case for several months, all of the increase came from private employers, which added another 268,000 jobs last month on top of the revised 231,000 in March, the monthly report said. Results of the previous two months were revised to show an additional 46,000 jobs were added.
Governments, struggling to balance budgets as they deal with shrinking revenues and growing deficits, cut 24,000 jobs last month. Most of the drop came at the local level, where 14,000 jobs were lost in April after a decline of 15,000 in March.
April’s numbers exceeded the forecasts of analysts, who had expected a gain of 185,000 jobs overall, with the change in private payrolls of 200,000. The uptick in the unemployment rate that cameComplete Story »