Friday, May 07, 2010

The job market improves

No, we're not out of the woods yet (and yes the political posturing about jobs continues), but there is this bit of good news (as reported by The New York Times):

The American economy added 290,000 jobs in April, a stronger gain than expected, with revised figures making it the fourth straight month of employment growth, the Labor Department said Friday.

Analysts had expected a gain of about 190,000 jobs.

At the same time, however, the unemployment figure rose to 9.9 percent, from the previous 9.7 percent, as more people returned to the job market seeking jobs.

The monthly job report also revised the March gain sharply upward to 230,000, from the previously reported 162,000, and revised February's figures from a loss of 14,000 to a gain of 39,000. With a January gain of 14,000, the cumulative increase came to 573,000 jobs in four months. But the job market still has a long way to go before it can be counted on to provide a base for a sustained economic recovery.

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