Nearly all of April’s job gains came from private-sector hiring, not temporary government hiring for the 2010 Census. Rising private-sector hiring is crucial since it holds the potential to pick up the slack that will be created as the effects of government economic stimulus fade later this year
More people began looking for jobs last month, raising the unemployment rate to 9.9%.The U.S. job machine finally slipped into gear last month, adding jobs at a pace last seen before the recession. Yet the unemployment rate also ticked up as the number of people seeking work surged, a sign that the economy isn’t yet growing fast enough to sate the need for jobs.The Labor Department report, released Friday, showed jobs grew in a wide swath of the economy, from manufacturing to professional services, and offered reassuring signs that the U.S. economy is recovering. "We’re on more solid ground after these data than we thought we were," said Alan Levenson, an economist for T. Rowe Price Associates. "That should reduce, at least at the margins, the concerns that ones might have had of the impact on our economy of what’s going on in Europe."
By Sara Murray and Joe Light, May 7, 2010, WSJ
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