U.S. Employment Rose in April by Adding 244,000 New Jobs, Beats Wall Street's Expectations

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Since jobs drives consumer spending, there was some good news today for the real estate industry.

More jobs were created in April 2011 than at any time since early 2006.

According to the U.S. Bureau of Labor Statistics, nonfarm payroll employment rose by 244,000 in April, and the unemployment rate edged up to 9.0 percent. Job gains occurred in several service providing industries, manufacturing, and mining.



The number of unemployed persons, at 13.7 million, changed little in April. The unemployment rate edged up from 8.8 to 9.0 percent over the month but was 0.8 percentage point lower than in November. The labor force also was little changed in April.
 
Among the major worker groups, the unemployment rates for adult men (8.8 percent), adult women (7.9 percent), teenagers (24.9 percent), whites (8.0 percent), blacks (16.1 percent), and Hispanics (11.8 percent) showed little change in April. The jobless rate for Asians was 6.4 percent, not seasonally adjusted.

The number of persons unemployed for less than 5 weeks increased by 242,000 in April. The number of long-term unemployed (those jobless for 27 weeks and over) declined by 283,000 to 5.8 million; their share of unemployment declined to 43.4 percent.
 
The civilian labor force participation rate was 64.2 percent for the fourth consecutive month. The employment-population ratio, at 58.4 percent, changed little in April.

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed over the month, at 8.6 million. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.

In April, 2.5 million persons were marginally attached to the labor force, about the same as a year earlier. (These data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.

Among the marginally attached, there were 989,000 discouraged workers in April, a decline of 208,000 from a year earlier. (These data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.5 million persons marginally attached to the labor force in April had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.

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