April Unemployment Rate Is Lowest In 4.5 Years at 7.5 Percent
Matt | On 03, May 2013
The U.S. economy posted some good news on Friday morning. April’s unemployment rate came in at 7.5 percent — the lowest figure since December 2008 and since President Obama took office.
At the same time, the economy added 165,000 new jobs to the rolls, mostly in the private sector. It’s not a gang-busters figure, but definitely one that shows improvement.
The labor figures also include the sequester cuts that took effect on March 1. It is widely assumed that the unemployment rate would have been even lower, or more jobs created, had those cuts not been in place.
Here is a breakdown of the unemployment figures by specific groups of people in the economy:
- Women: 6.7 percent
- Men: 7.1 percent
- Teens: 24.1 percent
- Whites 6.7 percent
- Blacks: 13.2 percent
- Hispanics: 9.0 percent
- Asians: 5.1 percent
To me, the labor picture shows that the country is going in the right direction. We still have a lot of work to do. Despite the president’s claims that the sky was falling, we haven’t YET suffered terribly under the sequester cuts. It remains to be seen how it will ultimately play out.