Breaking Down the Jobs Number

April Non-Farm Payrolls increased by 165,000

Revisions to the February Number showed jobs increasing by 332,000 versus 268,000 – this is now the best month for job creation since November 2005 (not including months where census workers were added)

Revisions to the March Number showed jobs increasing by 138,000 versus 88,000
April Unemployment Rate fell to 7.5%, the lowest reading since it was 7.3% in December 2008 and below the 7.6% in March

Average Workweek down 0.2 hours to 34.4

Average Hourly Earnings +0.2% versus flat in March – but with an increase of only 1.9% in the last year it barely keeps up with inflation

Labor Force Participation Rate remained at 63.3% and still down from a reading of 63.6% last year – remains at a 34-year low.

The Unemployment Rate for people who want a full-time job and cannot find them (The U-6 Number) increased to 13.9% from 13.8% in March – This is the true barometer.

4.4 million: the number of people out of work for at least 6 months  – historically high for what many are calling a recovery.

150,000: the number of jobs that need to be created each month to keep up with population growth – April’s 165,000 will not get people back to work.