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Another mixed job report for April (SarahLawrence Scott)
While the headline says 115,000 jobs were gained in April, March was revised up from 120,000 to 154,000, and February was revised up from 240,000 to 259,000. The headline unemployment rate (U-3) continued to drop to 8.1%, but that was due to a drop in the participation rate. The employment to population ratio fell to 58.4%, and now shows no improvement over the last year. The percentage of the unemployed who got there by losing jobs (rather than quitting or joining the labor force) continued to drop from from 54.7 to 54.5%. The percentage of the unemployed who have been so for 27 weeks or longer dropped sharply, from 42.5 to 41.3%. Underemployment (U-6) was unchanged at 14.5%. Hours worked was unchanged and hourly earnings were nearly flat. --BLS


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