The “unexpected” jobs numbers releases continued today, this time in a mostly-positive direction. The seasonally-adjusted 244,000 jobs gained in April was the largest since last May, and the equally-seasonally-adjusted 268,000 private-sector jobs gained was the highest since February 2006. That, along with a drop in the long-term unemployed, should overshadow an increase in the unemployment rate to 9.0%.
Further, Tom Blumer noted that, along with upward-adjustments in the numbers reported for February and March, we finally have more non-temporary private-sector jobs than we did at the official end of the recession in June 2009.
However, not all is roses and rainbows; this only reflects numbers recorded through mid-month. The question is whether the positivity in the first half of the month will overcome the negativity in the latter part.