April Unemployment Rate at 7.5% – Labor-Force Participation Rate at 35-Year Low
The unemployment rate dipped to 7.5% in April despite the sequester cuts. This is the lowest unemployment rate since Barack Obama came into office. The labor-force participation rate remains at a 35-year low.
The AP reported:
U.S. employers added 165,000 jobs in April, and hiring was much stronger in the previous two months than first thought. The gains trimmed the unemployment rate to a four-year low of 7.5 percent.
The Labor Department report showed the job market is improving despite higher taxes and government spending cuts.
In addition to the April gains, the government said employers added 138,000 jobs in March and 332,000 in February. That’s 114,000 more over the two months.
The labor participation rate remained flat, at 63.3% , once again the lowest since 1979. (Zero Hedge)