Date: June 2012: Econoday Report: Employment Situation June 1, 2012

Market Consensus before announcementNonfarm payroll employment in April increased only 115,000, following increases of 154,000 in March and 259,000 in February. Private payrolls rose 130,000 in April after a 166,000 increase the prior month. From the household survey, the unemployment rate dipped to 8.1 percent from 8.2 percent in March. Back to the payroll survey, goods-producing industry employment rose 14,000 after a 38,000 boost in March. Private service-providing industry employment rose 116,000, following a 128,000 gain in March. The public sector continued to downsize with a 15,000 drop in government employment. Average hourly earnings were flat, following a 0.2 percent gain in March. The average workweek for all workers in April was steady at 34.5 hours.