While the U.S. unemployment rate in April was the lowest it’s been in more than three years, the unemployed may simply be falling off the government’s radar as they give up looking for work.
Meanwhile, job growth has slowed sharply after a fast start to the year, suggesting another bump in what has been an agonizingly long road to recovery for the job market.
Unemployment fell to 8.1 percent in April, the lowest since January 2009, the Bureau of Labor Statistics reported Friday morning. But the decline was mainly due to 342,000 people leaving the labor force, meaning the BLS had stopped counting them as unemployed. The number of employed people in the nation actually fell by 169,000.
Nonfarm employers added 115,000 jobs to their payrolls in April, according to a survey of businesses that is different than the household survey that generates the unemployment rate. That job growth was lower than the 170,000 or so economists had expected, though the BLS revised upward the number of jobs that were created in February and March, adding about 53,000 additional jobs to payrolls.
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