US and European recoveries continue as China decelerates

The monthly employment situation summary for April 2014 was released by the US Bureau of Labor Statistics. And the headline numbers were terrific. The unemployment rate measured by the household survey fell to a cyclical low of 6.3%, below the Evans Rule threshold. Meanwhile, the establishment survey showed a net addition of 288,000 works to non-farm payrolls. The fact that both the household and establishment surveys showed marked improvements tells you that the jobs picture in the US has impro...


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