April Employment Report Surprises Market

Posted by Louis Navellier on 5/2/08 10:18 am

April payrolls were down only 20K, much better than the -75K consensus, and the unemployment rate fell to 5.0% from 5.1% (5.2% consensus), according to the Bureau of Labor Statistics.  The better-than-expected report seems to be due to Easter distortions, but it reinforces the fact that the U.S. economy is stabilizing and the upcoming government stimulus checks may help spending in the months ahead.  In the interim, we will have to wait until the May payroll figures for a clearer picture on the employment market.

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