Chart of the Day: Net New Jobs in April

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The American economy added 160,000 new jobs last month, 90,000 of which were needed to keep up with population growth. This means that net job growth clocked in at a sluggish 70,000 jobs. The number of workers in the labor force declined, but the number of unemployed also declined, which means the headline unemployment rate stayed steady at 5.0 percent. Public sector employment decreased by 11,000 jobs.

Hourly earnings of production and nonsupervisory employees were up at an annual rate of about 2.9 percent compared to last month, which is only slightly higher than the rate of inflation. However, weekly hours worked were up, which means weekly earnings increased at a healthy annual rate of 6.7 percent.

Bottom line: not horrible but nothing to write home about. The economy is growing, but overall we seem to remain mired in a great stagnation.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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