Employment in the U.S. increased in April by the most in four years and the unemployment rate unexpectedly rose as thousands of people entered the labor force, indicating the recovery is becoming self-sustaining.
Payrolls jumped 290,000 last month, more than the median estimate of economists surveyed by Bloomberg News, after a revised 230,000 increase in March that was larger than initially estimated, figures from the Labor Department in Washington showed today. The April gain included 66,000 temporary workers hired by the government to help conduct the 2010 census and a 231,000 rise in private payrolls.
Companies such as General Electric Co. are boosting staff as sales improve, leading to income gains that may spur consumer spending and more hiring. At the same time, unemployment may take time to recede as Americans who had dropped out of the workforce resume the job hunt, one reason why the Federal Reserve says it will keep interest rates low.
Manufacturers added the most workers to payrolls since August 1998, employment at service-providers rose the most since November 2006 and construction companies hired for a second straight month. The gain in overall employment in April was the biggest since March 2006.
Overall payrolls were forecast to increase by 190,000, according to the median estimate of 84 economists surveyed by Bloomberg. Estimates ranged from gains of 75,000 to 300,000.
(Source: Bloomberg.com)
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4 Responses
did the unemployed really get jobs or did they not file because their benefits ran out? I question the Obamanation administration in how accurate/honest they are. to easy to play games with numbers.
Which is what the President wants; to create a permanent underclass that would mean as many people as possible relying on the state.
This is a very biased anti-administration reporting of the story by YWN. A more balanced view is reported in the Times, WSJ and elsewhere, as follows:
“The American economy continued to add jobs in April in a further sign that an economic recovery was on track. Payrolls surged with an unexpectedly strong 290,000 jobs last month, the Labor Department reported on Friday, while the unemployment rate rose to 9.9 percent. “This is unambiguously a strong report for growth implications,” James O’Sullivan, chief economist at MF Global, said. “It adds to the evidence that the pickup in growth is leading to a clear-cut pickup in employment. It is very clear there has been a bounce here, and momentum has been up.”
With revisions on Friday, April was the fourth consecutive month that the economy added workers (a revised 230,000 jobs were added in March, instead of 162,000). Besides March, February was revised from a loss of 14,000 jobs to a gain of 39,000. With a January gain of 14,000, the cumulative increase came to 573,000 jobs in four months.”
“This is a very biased anti-administration reporting of the story by YWN.”
Wake up and smell the coffee.