A May 4 Associated Press story, "April job gains ease fears about economy," leaves out some very important facts.
On the surface, the addition of 165,000 new jobs would be positive news, but only if the number of hours worked per employee remained the same or even increased slightly. According to the Wall Street Journal, "total hours fell sharply, and the total amount of money earned by U.S. workers declined from the month before."
The full jobs report indicated that the average work time was cut by 12 minutes, which, when factored over 135 million workers, is the equivalent of a loss of more than 500,000 jobs. Quite a difference.
The Wall Street Journal also reminds us not to take one-month results too seriously, whether positive or negative. April was not a disaster, but it certainly was not strong enough to "ease fears" about the economy.
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Does the Associated Press not look at the details of employment figures, or is it only reporting what it wants readers to see? Both are unacceptable.