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US employment jumps 244,000 in April US employment jumps 244,000 in April
(40 minutes later)
US employment rose in April for the seventh month in a row, official figures have shown, but the overall unemployment rate has also risen.US employment rose in April for the seventh month in a row, official figures have shown, but the overall unemployment rate has also risen.
According to the US Labor Department, the number of new jobs created in April rose by 244,000, more than expected.According to the US Labor Department, the number of new jobs created in April rose by 244,000, more than expected.
However, the unemployment rate rose too, to 9%, from 8.8%. The employment and unemployment figures are collected using different methods.However, the unemployment rate rose too, to 9%, from 8.8%. The employment and unemployment figures are collected using different methods.
The number of US citizens out of work is 13.7 million.The number of US citizens out of work is 13.7 million.
The majority of new jobs - 44,000 - were created in the mining and energy sectors.The majority of new jobs - 44,000 - were created in the mining and energy sectors.
Although the increase in the number of people in work was better than had been expected, it is a fraction of the 8 million US workers who have lost their jobs since the 2008 financial crisis. Data for the previous two months was revised up to show 46,000 more jobs were added.
It is unlikely to mean any change in policy by the monetary authorities. Although the increase in the number of people in work was better than had been expected, it is a fraction of the 8 million US workers who lost their jobs in the downturn following the 2008 financial crisis.
That, and the rise in the unemployment rate, are unlikely to lead to any change in policy by the monetary authorities.
High commodity and food prices curbed US economic growth in the first quarter.
The latest figures showed the economy grew at an annualised pace of 1.8% in the first quarter of this year, after expanding at a rate of 3.1% in the final three months of last year.