Hiring in the United States was considerably higher in April than it was March, according to the Bureau of Labor Statistics’ monthly jobs report announced Friday. In April, the BLS reported, the seasonally adjusted net gain in new jobs was 211,000, with 194,000 of those hires in the private sector, 17,000 in the public sector. A consensus of experts surveyed by Bloomberg in advance of the report had forecast the gains would be around 185,000.
The bureau also revised job gains it had previously announced over the past two months. The March numbers were revised from 98,000 to 79,000, the February numbers from 219,000 to 232,000. Such revisions are standard procedure as more complete information is obtained in the months after a jobs report is released. Additional, usually minor, adjustments occur at yearly intervals.
The BLS count always includes both full-time and part-time positions. A person who has worked even one hour a week during the survey period is counted as employed.
April marked the 79th consecutive month of overall job growth, a record. The headline unemployment rate—the BLS labels this U3—fell slightly to 4.4 percent, the lowest level since May 2007. Since 2010, there has been an 11.4 million net gain in jobs after a Great Recession net loss of 8.8 million from February 2008 through December 2009.
Elise Gould at the Economic Policy Institute wrote earlier this week:
As with workers across the economy, young graduates’ economic prospects have brightened as the economy has gradually improved, and this year’s graduates may see better opportunities than their older brothers and sisters did when they graduated. Unemployment rates for young high school and college graduates have returned to within one percentage point of their pre-recession levels. But that’s pretty much where the good news ends. Underemployment continues to be elevated as young workers don’t get the hours they want or continue to be discouraged and a significant share of young workers continue to be “idled” by the economy (neither working nor in school). Large swaths of young college graduates are working at jobs that don’t require a college degree, and average wages of high school graduates are still below where they were in 2000.
For the benefits of a growing economy to reach all corners of the labor market, white as well as black, prime-age as well as young, and college-educated as well as high school–educated, the labor market has to be allowed to tighten up enough to push up wages and opportunities for all.
from Daily Kos http://ift.tt/2pHOdKK
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