Not A Lot Not To Like About Today’s Employment Report

The much anticipated Labor Department’s estimate of employment growth for the month of April came in today at +165K, growing from a revised 135.309 million in March to 135.474 million nonfarm employment in April. The March estimate was also revised upward from +88K to +138K. In short, there’s not a lot not to like in today’s employment report (at least for those with low expectations of the labor market), with the broad aggregates coming in above general expectations.  Another positive signal from the report is that government employment is declining, representing an encouraging sign for those concerned about the long-term…