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Jobs Added But Labor Force Participation 36 Year Low

Jobs Added But Labor Force Participation Drops

As usual, the new unemployment numbers show mixed results. The economy created 288,000 jobs in April but still less than what is needed to raise employment to pre recession levels. According to information released Friday from the Bureau of Labor Statistics construction, manufacturing, retail and wholesale trade, business and professional services, finance, health care, leisure and hospitality and government employment are all up. However, while more jobs were created, hourly earnings made no gain, indicating the economy is still creating too many low paying jobs. While unemployment declined from 6.7 percent to 6.3 percent, the real underemployment figure is 12.3 percent. That includes those who have given up looking for work or are underemployed. Also troubling, a record 92,594,000 Americans were not in the labor force as the labor force participation rate drops to a 36 year low. Also the number of women 16 and older not in the labor force climbed to a record high of 55,116,000 according to the BLS.
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