Unemployment Increases to 9%, Private Sector Adds 268,000 Jo
"Our nation's labor market registered encouraging job growth in the month of April. Nonfarm payroll employment added 244,000 jobs, exceeding expectations, with the private sector adding 268,000 jobs. The unemployment rate edged up to 9.0 percent.
"April's broad-based job gains were the largest we have seen in 11 months. Our economy has now seen private sector job gains for 14 months running. During this period, we have added 2.1 million private sector jobs, including 760,000 in the last three months alone. We have crossed an important threshold by creating more than enough jobs in each of the last three months to outpace growth in the labor force and put unemployed Americans back to work.
"While we saw the unemployment rate tick up in April to 9.0 percent from 8.8 percent, we should remember that unemployment had fallen a full percentage point over the previous four months. Job growth over the last three months indicates that our recovery has picked up the pace, although we clearly have more work to do. We will not be satisfied until every American who wants to work can find a job.
More Americans re-entering the search for work has been blamed for the rise in the unemployment rate. The unemployment rate for teenagers is 25% and the labor department has announced a summer jobs initiative aimed at improving job opportunities for teens.