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Employment numbers beat expectations

By Reuters
May 3, 2013

People wait in line to meet a job recruiter at the UJA-Federation Connect to Care job fair in New York.  (REUTERS/Shannon Stapleton)

People wait in line to meet a job recruiter at the UJA-Federation Connect to Care job fair in New York.
(REUTERS/Shannon Stapleton)

Employment rose more than expected in April, pushing the unemployment rate to a four-year low of 7.5 percent, which could help ease concerns of a sharp slowdown in the economy.

Nonfarm payrolls rose 165,000 last month, the Labor Department said on Friday. March’s payrolls were raised to 138,000, 50,000 more jobs than previously reported, and February’s job count was revised up to 332,000, the largest since May 2010.

Economists polled by Reuters had expected April payrolls to rise 145,000 and the unemployment rate to hold steady at 7.6 percent. The drop in the unemployment rate last month reflected an increase in employment, rather than people leaving the workforce.

Still, details of the report remained consistent with a slowdown in economic activity. Construction employment fell for the first time since May, while manufacturing payrolls were flat. The average workweek pulled off a nine-month high, but average hourly earnings rose four cents.

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One Response to Employment numbers beat expectations

  1. woody188

    May 4, 2013 at 12:34 am

    The drop in the unemployment rate last month reflected an increase in employment, rather than people leaving the workforce.

    This is a bald faced lie. It takes adding 300,000+ jobs per month to keep up with new graduates entering the workforce and lower unemployment. So how could the unemployment rate drop with these job numbers without people leaving the workforce?

    Second, these jobs are mostly low wage service jobs:

    hotels and restaurants (45,000 jobs)
    retail stores (29,000 jobs)

    Does anyone believe these government statistics any longer?

    Why would retail ramp up in April after the poor holiday season?

    How many bartenders and waitresses added in a month is a realistic number?