It's The Economy Stupid
290,000 new jobs added in April.
Unemployment rate up to 9.9%
More jobs in the U.S. economy, but higher unemployment:
The American economy added an unexpected strong 290,000 jobs in April, while the unemployment rate rose to 9.9 percent, the government said Friday.
Analysts had expected a gain of about 190,000 in the month.
With revisions on Friday, April was the fourth consecutive month that the economy added workers (a revised 230,000 jobs were added in March instead of 162,000), the job market still has a long way to go before it can be counted on to provide a base for a sustained economic recovery. More than 15.3 million were unemployed last month.
Despite the increase in jobs, the unemployment rate rose, mostly because the government said 195,000 workers re-entered the labor force after giving up on job hunting during the recession. When jobless people do not look for work, they are not counted in the official unemployment rate.
Bargain-minded buyers might consider these areas with affordable homes and robust economies.
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