+266,000 for Total U.S. Jobs Not So Great; +331,000 for Leisure & Hospitality Jobs Rates Cheers

A Number to Embrace with Enthusiasm

April’s Employment Situation report, released today by the Bureau of Labor Statistics, records an increase in total U.S. employment of +266,000 jobs month to month. While plus a quarter of a million net new jobs seems, on first blush, to be an impressive figure, Graph 1 makes clear that it registers as only a minor blip in the context of the employment swings we’ve been seeing over the past 14 months.

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