May 04, 2012
The economy added 115,000 jobs in April, according to the latest Bureau of Labor Statistics’ employment report. While the March number was revised up to 154,000, the 135,000 two-month average is well below the 252,000 average for the prior three months. The economy needs 100,000 jobs a month to keep pace with labor force growth.
In spite of the slower job growth, the unemployment rate edged down again to 8.1 percent. However, this is not a case of the household survey showing a different picture than the establishment survey. As was the case last month, the drop in unemployment was entirely attributable to people leaving the labor force.
For a more in-depth analysis, check out the latest Jobs Byte.
