Jobs numbers and slow recovery

Jobs report (BLS, Employment Situation Summary) confirms a relatively weak month in April with total nonfarm payroll employment increasing by 160,000. Also, the labor force participation rate decreased and the employment-population ratio both decreased a bit. Mining employment continued to decline, something that Trump promised to reverse and Clinton noted there might not be much we can do about (the implications might not be minor, see here). Also, while unemployment remains at 5% a broader measures of unemployment remain high. For example, total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force is at 9.7%.

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