Job Numbers Are Up; Unemployment Also Up As More People Look For Work
The unemployment rate went from 8.8 to 9% in April, but that’s because more people are looking for work. 268,000 jobs were added, besting the estimate of 185,000 jobs.
The overall jobless rate is up because more Americans indicated that they were looking for jobs than had in previous months, as opposed to being out of work but not actively on the job hunt.
The private sector added 268,000 jobs, while the government dropped 22,000 in April. In March, the private sector added 231,000 jobs. Overall March gains were 221,000, BLS said, updating its earlier total of 216,000 jobs.
Austan Goolsbee, chairman of the Council of Economic Advisers, said on MSNBC Friday morning that “the trend is definitely going the right way” on jobs. Still, he said in a statement, “growth is needed to replace the jobs lost in the downturn. We are seeing signs that the initiatives put in place by this administration – such as the payroll tax cut and business incentives for investment – are creating the conditions for companies to add new jobs and foster the industries of the future.”Click here for reuse options!
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