Well, the numbers are in and they do not look good. Are they better than stats from March? Yeah but they’re not exactly great. The April job report reflected a creation of 115,000 jobs and indicated the unemployment rate decreased from 8.2 percent to 8.1.
According to CNBC, although it may seem like jobs have been created, the number of discouraged employees increased from 865,000 to 968,000 — that’s an increase of 12 percent! Plus, people working on a part-time basis increased by 18,000. It wasn’t clear if this was in lieu of full-time work or if people re-entered the workforce from retirement, let’s say, to earn some extra cash.
What can we make of these numbers? Not to sound too grim but um, it’s indeed weak. Peter Morici, economist at the University of Maryland, told CNBC, “In the weakest recovery since the Great Depression, more than four-fiths of the reduction in unemployment has been accomplished by a dropping adult labor force participation rate — essentially persuading adults they don’t need a job, or the job they could find is not worth having.”
Although long-term unemployment slightened a little last month, at least numbers are headed in the right direction. Americans out of a job for more than 27 weeks decreased to 5.3 million to 5.1 and the average timeframe for unemployment decreased to 39.1 weeks.
Numbers, schmumbers — are they helpful? Perhaps for a macro view on the economy but when it comes right down to it, nothing can replace a job search than hard work, networking, and a ton of perseverance, numbers and all.