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US: Not so fast! Payrolls receding more slowly
Fri, May 2 2008, 14:51 GMT
by Peter Possing Andersen
Overview: The April labour market report proved stronger than generally anticipated. The data revealed a job loss of 20,000 persons in April (consensus: -75,000, DB: -40,000) and a drop in the unemployment rate to 4.95% from 5.08% (consensus and DB: 5.2%). Prior months saw a mild net revision of -8,000 persons. Todays report is consistent with an economy which has come close to a standstill, but has not slid into a recession.
Published on Fri, May 2 2008, 14:54 GMT
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