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| Credit: Calculated Risk |
Total non-farm payroll was up 288,000 in April; the unemployment rate fell 0.4% to 6.3%. That's a pretty big drop -- I haven't heard yet whether or not this was a move in labor-force productivity, or if it's viewed as a genuinely good news. My sense from a quick scan around the economics blogosphere is that it's seen as good news.
The broader U6 measure of unemployment was down 0.4% as well to 12.3%. Hard to believe that just a couple years ago, it was 14-15%.
Employment in the chemical manufacturing subsector was up 1,500 to 798,600 positions.
Unemployment for college graduates was down in April 0.1% to 3.3%. Unemployment for non-high-school graduates was down 0.7% to 8.9%.
Thanks, as always, to Calculated Risk for the graph.
Yay, the recession is over! However, our partners in DOOOOOOOMMMM!!!! the Germans, disagree. They say that that people on the payroll are 3.5 million less than in 2007, while the number of the potentially working population has increased by 13 million in that time. Plus a lot of the new jobs are part time, but that's not as important as being ~15 million jobs down.
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