Fears of Spring Slowdown Thwarted as April U.S. Jobs Report Shows Increase in Employment

The U.S Department of Labor has just released new figures on the number of jobs added to the economy in April, suggesting that a seasonal slump may be avoided.

According to the Labor Department, the American economy added 165,000 jobs in April. This figure was greater than the predicted number of 140,000 that leading economists were expecting. Hiring throughout March had appeared les strong, with only 88,000 new jobs being created and awarded during that month. In a surprising move, the Labor Department has revised those numbers, now stating that March in fact added a further 50,000 to that sum.

Indeed, the overall Q1 to Q2 picture is stronger than was originally anticipated, with job growth in February reaching an impressive 332,000. This means that February 2013 is the strongest month for new jobs since the U.S. Census causes a peak in temporary work hiring in 2010.

The numbers from the April report are in direct contrast to the warnings of a lagging springtime economy, driven by government spending cuts and unstable global economic indices. CNN Money reports that the retail underwent a shocking slump in March, while the manufacturing sector slowed down in April. The worldwide picture is similar, as China’s economic growth has faltered while Europe continues to tread water in a deep recession.

Nevertheless, the U.S jobs report has helped to ease fears over the state of the U.S. financially. This news has been met with relief and increased market buoyancy; following the release of the report, the Dow climbed to 15,000 for the first time ever and the S&P500 shot to over 1,600.

Consumer finance site PaydayLoansOnline.net reacted to the report in the following statement.

“Although it is encouraging to hear that April has been a successful month for job hunters and for Wall Street, on Main Street many individuals are still feeling the strain. There remain 11.7 million Americans unemployed. Granted, the unemployment rate fell to 7.5% in April, but this is still a very high number if we recall that before the recession, the rate of national unemployment was 4.5%. The April Jobs report tells us that the picture is slowly yet unpredictably improving. Consumers should vigilantly manage their personal finances to consistently improve their situations on an individual basis.”

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