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The U.S. added only 115,000 jobs in April. Economists had expected 163,000. The unemployment rate dipped to 8.1% from 8.2% in March, but economists said that reflected people leaving the labor force, which is made up of those employed or seeking employment. Some 342,000 dropped out of the labor force in April. These figures, along with other recent data, suggest the economy is weakening again, although the recovery has been anemic since late 2007. A worrisome statistic, quoted by the New York Times: the U.S. is now producing more goods and services than it did when the recession officially began in December of 2007, but with five million fewer workers. Companies have figured out how to boost output without raising employment. It is a huge social problem, reflected in part by the Occupy movement, which appears to be burgeoning.
The U.S. added only 115,000 jobs in April. Economists had expected 163,000. The unemployment rate dipped to 8.1% from 8.2% in March, but economists said that reflected people leaving the labor force, which is made up of those employed or seeking employment. Some 342,000 dropped out of the labor force in April. These figures, along with other recent data, suggest the economy is weakening again, although the recovery has been anemic since late 2007. A worrisome statistic, quoted by the New York Times: the U.S. is now producing more goods and services than it did when the recession officially began in December of 2007, but with five million fewer workers. Companies have figured out how to boost output without raising employment. It is a huge social problem, reflected in part by the Occupy movement, which appears to be burgeoning.