U.S. economy adds 428,000 jobs in April, unemployment rate stands at 3.6%

U.S. economy adds 428,000 jobs in April, unemployment rate stands at 3.6%


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I can tell you right now that the unemployment rate moved from 3.6 and stayed at 3.6 so we're still hovering at some very lofty levels.

I do i want to point out 3.5 is where we were prior to covid now on the two months of payrolls there's a revision of minus 39 000.

Still don't see all those numbers average hourly earnings on a month-over-month basis were only up 3/10 that is a miss.

If you look at year over year they were up 5.5 that's a nice solid number and on jobs 428 000.

this is our 12th month and even dozen now over 400 000 i would have picked 410 000 so i would have been close 406 000 as private payrolls 55 000 well above expectations on manufacturing.

if we look at the work week 34.6 same as last time we were looking for a little bit more out of that and here we go the labour force participation.

Rate everybody's looking at this and it is a miss 62.2 that's 2/10th down from 62.4 our last look and just to point out where was it pre-covered well in February of 2020.

it was 63.4 if we look at the underemployment rate it actually moved up from 6.9 to 7 so many are going to say ah it's not a great number but i will continue to say jobs 428 000 isn't bad we could all go over the intricacies of all

The other aspects of this but my opinion is it's a good number we haven't seen a lot of volatility in the uh fixed income markets here.

the equity pre-market opening definitely has improved.

We did turn positive briefly on the Dow now back negative but Steve you didn't uh talk beforehand and the least maniacs.

I was looking for participation rate that was the most important thing to me i guess they're saying it's still good to see 428 000 jobs come through.

It's hard to feel all that bad about the world when we're putting that many people to work i forget what the number is this is maybe the 12th month in a row we've done plus 400 000.

So with all the other stuff that's happening it's still good that we're putting people back to Work we did see the wage number come down a bit.

I’m just sort of looking in right now Joe into the how we got to the lower participation rate.

I'm interested in why that happened okay i did see what i thought real quick was good distribution factory jobs did well services

340 000 most of the jobs were private sector so whatever else is happening in the economy and there's a lot of stuff to worry about a lot of that stuff is down the road you still Got to be happy.

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