WASHINGTON (AP) – After a disappointing March, economists are expecting a jobs rebound to show up when the Labor Department releases employment data for April today.
Economists surveyed by FactSet forecast that job growth rebounded to 222,500, from 126,000 in March. The March gain was the weakest in 15 months. Economists have also forecast that the unemployment rate dipped last month to 5.4 percent from 5.5 percent in March.
Home sales staged a big comeback in March.
And service firms, such as restaurants, retailers and banks, grew at a faster pace in April than in March, according to a survey by the Institute for Supply Management.
April’s jobs report should shed light on whether the first quarter’s slump was temporary or whether a more persistent weakness is holding back the economy.