April Data Shows Signs of U.S. Economic Recovery, More Jobs Added

The U.S. Bureau of Labor Statistics released a report today revealing that an unexpectedly high 244,000 jobs were added this past April. The private sector continued to be the driving force behind increasing numbers, adding 268,000 jobs during the month, while the government cut an additional 24,000 jobs, most of them at the local level.According to the New York Times, economists had anticipated a much less impressive 185,000 jobs to be added in April. But while the news from the report was mostly positive, economists warned that there are still concerns. The unemployment rate, for example, rose from 8.8% to 9.0% in April, and, according to the Times, "falling government employment numbers, weak construction figures, no expansion in average weekly hours, and a small rise in average hourly earnings" cautioned against premature celebration.

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