April Showers Brought May Jobs!

The Labor Dept. delivered more good news on the economy: 268,000 new jobs added during April. That means a quarter of a million Americans who were unemployed last month are now working. This is the single biggest monthly increase in five years. The report is especially positive because the increases are broad-based, meaning there was hiring in most industries like healthcare, manufacturing and retail. The perplexing thing is that the unemployment rate actually rose, but the explanation there is that long-term unemployed where were discouraged and dropped out of the job market are now back in the game.
This recovery is coming in fits and starts, and it will take a long time for the economy to absorb all the staffers who want to work, but we’re on our way.