The US unemployment rate edged down to 8.1 percent in April. The growth of payroll jobs slowed to 115,000.

1. Data for the Classroom from
Ed Dolan’s Econ Blog
http://dolanecon.blogspot.com/
US Jobs Data:
.
Unemployment Edges
Down, Job Growth Slows
Posted May 4, 2012
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2. Payroll Job Growth Slows
 Total payroll job growth for April was a
modest 115,000, slowing somewhat
from the first three months of the year.
 The private sector gained 130,000
jobs while the government lost 15,000
jobs
 Job growth was concentrated in
services, although there was also a
small gain in manufacturing
 The previously reported March gain
was revised upward by 34,000 jobs;
February was revised up by 19,000
Posted May 4, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com

3. Unemployment Rate Falls to 8.1 Percent in April
 The unemployment rate, which is the
ratio of unemployed persons to the
labor force, fell slightly to 8.1 percent
in April, its lowest since February 2009
 For the second month in a row, the
labor force, the number of employed,
and the number of unemployed all fell
 The unemployment rate is based on a
household survey that does not
always closely track job growth as
reported by the payroll survey
Posted May 4, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com

4. Broad vs. Standard Unemployment Rate
 The BLS also provides a broader
measure of job-market stress, U-6
 The numerator of U-6 includes
 Unemployed persons
 Marginally attached persons who
would like to work but are not looking
because they think there are no jobs
 Part-time workers who would prefer
full-time work but can’t find it
 The denominator includes the labor
force plus the marginally attached
 U-6 held at 14.5 percent in April after
falling sharply in March
Posted May 4, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com

5. Long-Term Unemployment Falls, but Remains High
 The percentage of all unemployed
workers who have been out of work
27 weeks or longer fell in April,
continuing a recent trend
 The long-term unemployment rate
has been unusually high throughout
the recession and recovery
Posted May 4, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com

6. Employment-Population Ratio Falls Slightly
 The employment to population ratio
fell slightly for the second month in a
row. At 58.4 percent, it is now barely
above its its all-time low of July 2011
 This ratio is subject to a long-term
downward trend caused, in part, by a
steady increase in the percentage of
the population of retirement age
Posted May 4, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com