The U.S. economy in April added jobs at the fastest pace in four years, but the unemployment rate unexpectedly rose.
Economists polled by Dow Jones Newswires were expecting payrolls to rise by 180,000. The March figure was originally reported as a 162,000 increase.
Taking into account revisions to prior months, the U.S. economy added an average of 143,000 jobs a month in the first four months of the year, which may fuel optimism about the job market's recovery.
However, as a reminder of the labor market's continued weakness, the unemployment rate increased to 9.9% last month. Economists were expecting it to remain at March's 9.7% level.
Yep! We don't want to get too optimistic about that unemployment number rising to 9.9%!!
Oh, and in further encouraging news, there is THIS.
I HAVE A QUESTION: I wonder what % of those 162,000 new jobs are GOVERNMENT JOBS? Just wondering.....................