The April Nonfarm payrolls were just released, and they were gangbusters!
290,000 new jobs were added. Only 66,000 of those were census jobs, meaning that 224,000 non-census jobs were created. February was revised upward 53,000. March was revised up 68,000. A total of 573,000 jobs have been added to the economy since the bottom in December of last year. This is far stronger growth than in eaither of the "jobless recoveries."
195,000 people re-entered the workforce, driving the unemployment rate up to 9.9%.
More below the fold and I will update with graphs and further data as soon as they come in.