Joblessness declined in line with expectations in April. A largely seasonal 5,953 fall reduced the number of people out of work to 146,327 and shaved a tick off the unemployment rate which now stands at 3.3 percent. Seasonally adjusted joblessness was down just 394 (0.3 percent) at 146,702 which left the rate steady at 3.3 percent.
Vacancies were off an adjusted 10 versus March at 11,670 but show a healthy 16.1 percent yearly increase.
Today's results hardly seem weak enough to support the surprise reversal in consumer sentiment reported by SECO last week. As such, they should continue to support the recent upswing in household spending.