El-Erian: Jobs Numbers Very Good, But Fed In Tough Spot

The jobs report came in much stronger than had been expected, with a seasonally adjusted 288,000 new jobs and upward revisions to job growth in both February and March, but as Allianz Chief Economic Advisor Mohamed El-Erian explains on Bloomberg Television’s In The Loop, the country still hasn’t finished healing from the financial crisis. Long-term unemployment under 3.5 million Aside from the headline jobs numbers, El-Erian was impressed that the report contained good news for some of the country’s most vulnerable populations. “If you look at long-term unemployment, that came down to under 3.5 million. We have not seen that…