Employment Situation Summary – Bureau of Labor
Statistics
Job growth beats expectations in April – Reuters
Jobs Report: Winners and Losers – WSJ
April’s modest payroll
improvement and the prior months upward revisions would seem to rule out the
Federal Reserve ramping up stimulus measures.
Economy Avoids ‘Spring
Swoon’ As Unemployment Rate Falls – TIME
http://business.time.com/2013/05/03/jobs-report-economy-avoids-spring-swoon-as-unemployment-rate-falls
[audio] Jobs Market Look Better Than It Did Few
Hours Ago – WSJ
Five Takeaways From the Jobs Report – WSJ
Economists React: Last Month ‘Largely a False
Alarm’ – WSJ
Decent job gains and lower unemployment – Nordea
April payrolls: +165,000, unemployment down to
7.5 per cent – alphaville
/ FT
The numbers for March
and April are still less healthy than the winter averages, indicating that a
slowdown has still occurred. But even so, they also indicate that the decline
may not be as precipitous as other economic indicators have suggested.
April Employment Report – Calculated
Risk
US Employment Surprise, but is it Good Enough? – Marc
to Market
Steady path to disappointment – Free
exchange / The Economist
Recent worries over
another spring slowdown in hiring look a bit overstated. But it's important to
keep things in perspective.
Participation Rate Flat At 1979 Levels – ZH
Jobs Breakdown By Age And Gender, Or No Country
For Prime-Aged, Male Workers –
ZH
Where The Jobs Were In April – ZH
April Payrolls Rebound – The
Capital Spectator
Macro Digest: Strong jobs report – TradingFloor
Juhani Huopainen: The
upward revisions and better-than-expected April readings made the US employment report strong - and this should
allow the Fed to return to its original flight plan.
Report shows continued slow growth, bought at
great cost – Fabius Maximus
In fact the trend of
growth remains the real story, with the US economy near stall speed — supported
only (like the other developed nations) by massive multi-year fiscal and
monetary stimulus. Slow growth bought at great cost. A cost we cannot long
continue to pay, borrowing and squandering the money ($ which instead could be
rebuilding America). Just like Japan since 1989.
Unemployment falls to 7.5%; job creation solid
in April – Wonkblog
/ WP
The April jobs report, in 8 charts – Wonkblog
/ WP
Real Hourly Wages and Hours Worked: Monthly
Update – dshort
Little Sequester Effect Seen in Employment
Report – WSJ
Government cutbacks
may soon weigh on America’s job market, but so far signs of a drag are few.
April’s Old News, Let’s Talk May Jobs – WSJ
With the April jobs
report already several hours old, it’s time to look ahead to May. Here’s how
today’s picture --165,000 net jobs gained and a 7.5% unemployment rate -- hints
at what to expect next month.
Charts: Slow-Motion Jobs Recovery – WSJ
Comparing recoveries
in overall, private and public-sector jobs.
Quick Employment Thoughts – Tim
Duy’s Fed Watch
The employment report
does not alter the Fed's forecast, but provides renew confidence in that
forecast. Which could bring a summer
tapering of QE back into play.
Employment Report Comments and more Graphs – Calculated
Risk
I think most of the
state and local government layoffs are over.
Of course the Federal government layoffs are ongoing with many more
layoffs expected due to the sequestration spending cuts. Overall this was a
somewhat weak report given the slack in the economy, but the revisions to
payrolls in February and March make the report more solid.
Understanding the painfully slow jobs recovery – Felix
Salmon / Reuters
We can — and should,
and could, and must — do better than this. But doing so will require a thaw in
the Washington gridlock.
Not swooning, not soaring – Free
exchange / The Economist
There is little reason
to expect the economy to accelerate in the near term. Barack Obama desperately
wants to scrap the sequester, but unless congressmen heard a groundswell of
protest in their districts during this week’s recess, they are unlikely to return
to Washington motivated to fix it. The Federal Reserve had
expected to start tapering off quantitative easing (QE), under which it buys
$85 billion of government bonds a month with newly created money. The March air
pocket prompted it to reconsider, and this past week it opened the door to
ramping up QE. But the April report does not show the sort of stall that would
prompt the Fed to pull the trigger. The year 2013 has so far held less economic
drama than 2012, 2011 or 2010, but it
has not given any reason to expect the final result to be different.
Although the April’s
income growth fell slightly below trend, the basic path has been steady and
clear. Unfortunately this doesn’t approach any reasonable definition of
“catch-up growth” or “escape velocity” or whatever — though of course it’s far
better than what’s happening throughout Europe.
Jobs +165K, Part-Time Employment +441K;
Unemployment Rate 7.5%; Dow Tops 15,000 – Mish’s
Average Weekly Hours, The Law Of Large Numbers,
And An April 618,000 Payroll... Decline? – ZH