Jobs, of course, remain a critical issue. Improvements in labor markets boost household income prospects and enables Americans to take care of themselves and their families and to save for their future. So of course jobs are a crucial component in the transition to selfsustaining growth. We are now seeing clear signs that the process of job creation is taking hold.
Payrolls have risen in each of the first four months of this year. In April, payrolls increased by a strong 290,000. The recent uptick in the unemployment rate from 9.7 to 9.9 percent actually reflects an improved outlook, as workers who dropped out of the job market are gaining confidence and beginning to reenter the workforce.