29 April 2017

Unemployment Rate Falls, But So Does Participation

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U.S. job growth increased at its fastest pace in more than two years in April, suggesting a sharp rebound in economic activity early in the second quarter.

Nonfarm payrolls surged 288,000 last month, the Labor Department said on Friday. That was the largest gain since January 2012 and beat Wall Street's expectations for an increase of 210,000. March and February data were revised to show 36,000 more jobs than previously reported.

"The economy really has strong underlying fundamentals supporting its growth. Temporary headwinds such as the bad weather can be certainly managed," said Russell Price, senior economist at Ameriprise Financial in Troy, Michigan.

Still, the report did give some worrisome signals on the economy's health.

While the unemployment rate dived 0.4 percentage point to a 5-1/2 year low of 6.3 percent, part of the decline was because hundreds of thousands of people left the labor force.

Click here for the full article from Reuters. Also see our related post, “How Not to Be Misled By the Jobs Report.” 

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