Friday, May 3, 2013

Job Growth in the U.S.: Plodding Along Or Picking Up Speed?

The always eagerly anticipated numbers from the on job growth and the nation's unemployment rate are due out at 8:30 a.m. ET. , NPR's Yuki Noguchi said economists expect to hear that employers added about 150,000 jobs to their payrolls in April and that the jobless rate stayed at 7.6 percent.

"The question is whether the labor market is slowing from the plodding pace that it's been going at, or whether it's essentially holding up," Yuki told Morning Edition host David Greene. Among the things to watch for: How the federal government's budget-cutting efforts are rippling through the economy.

The news was better than economists were expecting, economists thought Bureau of Labor Statistics would say that 140,000 to 150,000 jobs were added to payrolls last month and that the jobless rate remained unchanged.

The nation's jobless rate edged down to 7.5 percent in April from 7.6 percent in March and employers added 165,000 jobs to their payrolls last month. Still, job growth since the economy emerged from recession in mid-2009 has been more modest than during other recoveries. NPR

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