The economy gained 244,000 net jobs in April — the third straight month of solid gains. Yet the unemployment rate rose from 8.8 percent to 9 percent.

How did that happen? It's because the government relies on two surveys for those figures, and they can diverge sharply from time to time.

One is called the payroll survey. It asks companies and government agencies how many people they employ. This survey produces the number of jobs gained or lost during the month. In April, the payroll survey showed the best month of private-sector hiring since February 2006. Businesses added 268,000 positions, while federal, state and local governments cut 24,000 jobs.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.