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  • Employment Situation Special Edition

    (May 06.5, 2005) - The Employment Situation report, released at 6:00 AM EST, showed a surge in job growth during the month of April. While Wall Street was predicting growth in the 175,000 range, the economy produced 275,000 jobs.

    Employment rose in April, and the unemployment rate was unchanged at 5.2 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Nonfarm payroll employment increased by 274,000 over the month. Job growth was widespread, with gains in construction, mining, and several service-providing industries.Total employment grew by 598,000 in April to 141.1 million, and the employment-population ratio--the proportion of the population age 16 and over with jobs--edged up to 62.6 percent. The civilian labor force increased by 605,000 in April to 148.8 million; the labor force participation rate, at 66.0 percent, also was up over the month.

    The report raises hope and a number of questions. During the months of March and April, economic expectations were decidedly flat.
    Accelerating energy prices, the threat of 80's style inflation, Social Security doom and gloom and flat projections from other employment indices set the expectations for this report. The economy seems to have a mind of its own.
    Be sure to read today's Special Edition of the Bugler which highlights employment indices from around the world.

    The Employment Situation for May 2005 is scheduled to be released on Friday, June 3, at 8:30 A.M. (EDT).

    John Sumser

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