By JEANNINE AVERSA, AP Economics Writer
Friday, May 7, 2010
The economy got what it needed in April: A burst of hiring that added a net 290,000 jobs, the biggest monthly total in four years. It showed employers are gaining confidence as the recovery takes deeper root.
But people who had given up on finding jobs are gaining confidence, too, and are now looking for work. That’s why the unemployment rate rose from 9.7 percent to 9.9 percent and will likely go higher.
Especially encouraging was that the job gains came largely from private employers, the backbone of the economy. They boosted payrolls by a surprisingly strong 231,000, the most since March 2006.
The new jobs, generated by sectors across the economy, are the first sign that the recovery is adding significant numbers of new jobs — even if not enough to absorb the influx of jobseekers.