Unemployment falls as people give up job search

(May 4, 2012) -- Payroll employment rose a disappointing 115,000 in April 2012, compared to expectations of a 160,000 increase, RBC Economics Research reported today. "During the last five months, labor markets have generated on average 205,000 jobs with above-average gains from December 2011 until February 2012, and below-average increases in March and April 2012. The risk is that this pattern is not solely weather related and that a slowing trend in labor markets is emerging," said Ferley.