With every month the economy seems to be healing itself as April proved to be another big jump in the right direction for the once broken economy. Employers added almost 290,000 jobs to their payrolls in the month of April alone. This number is much higher than the estimated growth of 120,000 that the Labor Department predicted for the month. However, not all the news was good as the unemployment rate rose to 9.9 percent. The workforce growing in size among other things primarily caused this rise in unemployment. However, many are hopeful that the continue growth of jobs is helping the economy bounce back from one it’s worst recessions ever.
The ironic part is that this news comes a day after the stock market had what many are calling a flash crash on Thursday. On Thursday the Dow Jones industrial average fell by almost a record 1,000 points in no more than a half hour causing prices to free fall and stockbrokers to panic. Many put the blame on the crash on fears about the European market (especially in Greece) while others believe it was a glitch that caused the crash. The SEC has launched an investigation into finding out what exactly happened and are hopeful to find out what really caused the prices to fall so far, so fast.
Markets crash on Thursdays and jobs are gained on Friday. It looks like when it comes to the United States economy, a day really does make a difference.
