The American economy added a lackluster 115,000 jobs in April, according to the Bureau of Labor Statistics. The unemployment rate dropped to 8.1 percent.
The only good news in the report is that job estimates for previous months were revised upward, meaning more jobs had been created than initially thought.
For example, the initial March release reported 120,000 jobs created; the revised figure is 154,000.
The February number, originally reported at 227,000, has been revised upward twice and now stands at 259,000.
If that pattern holds for April, today’s numbers will also be revised upward. But such revisions won’t be enough to turn a disappointing number into a strong number. This continues to be a long, hard slog.
– Jay Bookman