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BY BARBARA MANINGAT
ANCHOR MEGAN MURPHY
You're watching multisource business video news analysis from Newsy.
It seems like a contradiction: The Labor Department says there are more jobs out there, but at the same time, more people are unemployed.
The April report shows 244,000 additional jobs -- but a rise in the unemployment rate from 8.8 to 9 percent. (Video from Fox News)
So what gives? Even economists are scratching their heads. First- the good news.
The LA Times reports: “Economy adds jobs for a third straight month”
The New York Times adds - gains are being seen in almost every sector.
“Some of the biggest gains were in retail, professional and business services, leisure and hospitality, and manufacturing.”
Analysts of The Hub for Wall Street Journal highlight another positive in the report -- an increase of average hourly earnings.
“The Fed is looking very carefully at pay roll job growth because they want to see that the economy can stand on its own two feet without added monetary stimulus and without fiscal stimulus...”
Now, the bad news: The first jump in the unemployment rate since November. (Headline from The Hindu)
But a CNN blog writer points out the silver lining.
“In fact, this uptick to 9% actually suggests more people are returning to the work force, because people who have given up looking for work are not counted in the official unemployment rate. 113,000 people who weren't counted as unemployed in March jumped back into the labor force in April.”
CNBC looked even deeper to find what it calls the quote -- “real” unemployment rate...
“… which rose to 15.9 percent, up two-tenths from the prior month... [I]t measures not just those looking for work and unable to find jobs but also those ‘marginally’ attached to the labor force and those who are working part-time but who want full-time work."
So what’s the bottom line? One Fox News analyst says the April job report shows the economy is moving in the right direction -- but the pace is too slow.
Analyst: “Just to give you a good idea of what it would take for us to even get back to 6% unemployment, it is staggering. We would have to average -- average -- month in and month out, for at least three years, at least, better than 300,000 jobs a month.”
Reporter: “Holy cow, ya we have not seen that.”
Finally, an ABC News blogger says, political spin can make the numbers look good- or bad.
“Democrats saw the 244,000 jobs added to payrolls in April as a positive sign that the country’s economy is improving and the Obama administration’s policies are working. Republicans viewed the rise in the jobless rate back up to 9 percent as a negative sign that the economy is not recovering as quickly as it should be and the administration’s policies are failing.”
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Transcript by Newsy.