No Longer the "Jobless Recovery"
After being blind-sided by a far-greater-than-expected rise in nonfarm payrolls in March, Wall Street was taken by surprise yet again by the April employment report, released May 7. The economy added 288,000 jobs during the month, far greater than the consensus forecast of a 170,000 gain (and the 150,000 we at Action Economics were expecting). In our view, this report is the best evidence yet that the "jobless recovery" is over.
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