UWM Economic Prof Calls Job Growth ‘Tepid’

5/6/12 – U-W Milwaukee economics professor John Heywood says calls the nation’s job growth in April positive but “tepid.” The Labor Department said 130-thousand private sector jobs were created last month, the lowest number since last August. And while the nation’s unemployment rate dropped, it was because 342-thousand Americans stopped looking for work. They left the labor force, and reduced the total number of present-and-potential workers on which the employment percentages are based. The percentage of working-age Americans either with jobs or actively looking fell to 63-point-six percent last month. Sal Guatieri of the B-M-O Financial Group called it the lowest percentage in 30 years. Heywood said the ratio needs to be reversed if the country’s going to add jobs.