The civilian labor force dropped by 806,000 in April, following an increase ofSo the decline of 0.4% in unemployment rate is because 806,000 folks quit the workforce. Not as stellar as the the headlines suggest.
503,000 in March. The labor force participation rate fell by 0.4 percentage
point to 62.8 percent in April. lowest since 1978
The average workweek for all employees on private nonfarm payrolls was unchangedThese are not strong numbers.
at 34.5 hours in April. The manufacturing workweek decreased by 0.2 hour in
April to 40.8 hours, and factory overtime was unchanged at 3.5 hours.
In April, average hourly earnings for all employees on private nonfarm payrollsHours * (hourly pay) = earnings. Flat hourly earnings is not a good thing for the economy. The annual change in earnings per employee doesn't show a meaningful amount of real growth (growth after inflation), so the rich are still getting richer and the poor aren't keeping up.
were unchanged at $24.31. Over the past 12 months, average hourly earnings
have risen by 1.9 percent.
But at least the report has strong headlines and isn't a disaster!
I found the Jobs market right here... http://www.benefits.gov/
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