The April jobs report was strong, with 428,000 new jobs and unemployment holding steady at 3.6%. Black unemployment ticked down to 5.9%, which, while it’s far above white unemployment the Economic Policy Institute’s Elise Gould notes is the first time it’s been under 6% in the pandemic recovery.
That’s the good news. There are key areas of weakness:
The private sector has now gained back 97.6% of the jobs it lost in the recession. State and local governments have gained back just 52.9%. ...
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