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U.S. unemployment
WASHINGTON, (UPI) -- The U.S. economy added 290,000 jobs in April but the unemployment rate jumped to 9.9 percent, the U.S. Bureau of Labor Statistics said Friday.
The job growth was substantially higher than analysts' consensus prediction of 200,000 jobs but that same thinking had the unemployment rate staying at 9.7 percent -- where it had been for three months -- or even shrinking.
However, in general the data have to be seen as positive. The bureau's figures for job creation in previous months were revised upward suggesting the economic recovery was gaining momentum.
Since December, the economy has added 573,000 jobs but even with the spike, employers have a long way to go to recoup the 8 million jobs lost from December 2007 through late last year.
The disconnect between the rise in jobs and the unemployment rate could be a sign that more people are trying to enter the workforce -- that people who had been discouraged from looking for weeks now believe they can find jobs, which would be another positive sign.
The 9.9 percent unemployment rate represents 15.3 million people, of whom 6.7 million have been without work for more than 26 weeks.
The bureau said "sizable employment gains occurred in manufacturing, professional and business services, healthcare and in leisure and hospitality." Federal government employment increased due to the hiring of temporary workers for Census 2010.
WASHINGTON, (UPI) -- The U.S. economy added 290,000 jobs in April but the unemployment rate jumped to 9.9 percent, the U.S. Bureau of Labor Statistics said Friday.
The job growth was substantially higher than analysts' consensus prediction of 200,000 jobs but that same thinking had the unemployment rate staying at 9.7 percent -- where it had been for three months -- or even shrinking.
However, in general the data have to be seen as positive. The bureau's figures for job creation in previous months were revised upward suggesting the economic recovery was gaining momentum.
Since December, the economy has added 573,000 jobs but even with the spike, employers have a long way to go to recoup the 8 million jobs lost from December 2007 through late last year.
The disconnect between the rise in jobs and the unemployment rate could be a sign that more people are trying to enter the workforce -- that people who had been discouraged from looking for weeks now believe they can find jobs, which would be another positive sign.
The 9.9 percent unemployment rate represents 15.3 million people, of whom 6.7 million have been without work for more than 26 weeks.
The bureau said "sizable employment gains occurred in manufacturing, professional and business services, healthcare and in leisure and hospitality." Federal government employment increased due to the hiring of temporary workers for Census 2010.
