I was downbeat on this issue a few days ago, so I suppose it behooves me to note that April was a very good month for jobs. The only concern is that the actual unemployment rate went up to 9%, but I presume that much of that can be explained by job-seekers becoming confident enough to re-enter the market for jobs.
Of course, it is important to put matters in perspective:
The United States has recovered only a fraction of the more than 8 million jobs its lost in the 2007-2009 recession. Even at April’s relatively rapid rate of job growth, it would take nearly 2-1/2 years to reclaim all those jobs.
High gasoline and food prices clipped U.S. economic growth in first quarter when the economy grew at a subdued 1.8 percent annual rate. It had expanded at a 3.1 percent clip in the final three months of last year.
When it comes to the economy, we are not out of the woods yet.