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Robust Job Growth in April

The labor market remains strong.  Companies added 253,000 jobs in April, the best gain since January and only slightly below the 12-month moving average (see Chart 1).  The unemployment rate fell to 3.4% as household employment rose by 139,000 (see…

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Update on Family Employment

Although the monthly employment report provides considerable information regarding individuals, it is an inadequate metric in understanding the U.S. consumer because most consumer decision units (households) are comprised of families (defined as two or more persons related by blood or…

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