67°

Topics

PNC Financial Services Group Incorporated
Strong April jobs report also contains warning signs on labor market
Strong April jobs report also contains warning signs on labor market

The unexpectedly strong job creation in April was a welcome sign to economists that slow hiring over the winter appeared to be related to severe weather and not a harbinger of another downturn in the uneven recovery. But the economy probably can't sustain the 288,000 net new jobs pace, which included industries such as construction catching up on hiring after a winter lull, they said. And Friday's government report contained warning signs that the labor market is far from fully healed. "More than likely April was a bit of a rogue month," said Brian Bethune, chief economist at Alpha Economics Foresights. The top-line number -- the best monthly job creation since...

Loading