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Jobless Rate Ticks Up, as Economy Adds 244K Jobs

The U.S. economy added 244,000 net new jobs in April, even as the unemployment rate edged up to 9.0 percent, the U.S. Bureau of Labor Statistics reported on Friday.

Jobs were gained in the service-producing industries, manufacturing, financial companies and education and health care.

The private sector exclusively added 268,000 jobs, but job cuts at the federal, state and local levels, the economy added 244,000 net new jobs.

April marked the third straight month in job gains of more than 200,000, and the best three-month hiring period in five years.

Despite the jobs gains however, the unemployment rate ticked up from 8.8 percent in March, to 9 percent, the first increase since November.

Real unemployment, U-6, increased from 15.7 percent to 15.9 percent in April.

The number of persons working part-time remained little changed at 8.6 million in April, the U.S. Bureau of Labor Statistics said.

The Dow Jones Industrial gained more than 168 points on early trading as a result of the latest employment figures, notwithstanding the anemic growth and spiking gas prices.

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