The pace we've come to expect
For the second month in a row, America’s labour market has disappointed, once again raising questions about whether the economic recovery is truly entrenched. Nonfarm payrolls rose just 115,000 in April from March. While the unemployment rate dipped to 8.1%, the lowest since early 2009, from 8.2%, it did so for the wrong reason: the labour force (those working or looking for work) shrank by 342,000.
Private payrolls rose 130,000, but government ...
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