Solid April jobs report shows economy gaining momentum

April’s job gains were widespread. Retailers, factories, financial companies, education and health care and even construction companies all added new workers. Federal, state and local governments cut jobs.

The data suggest businesses are confident in the economy despite weak growth earlier this year. Payrolls growth increased sharply in February and March, marking the fastest two-month pace of job creation since before the recession began and heralding a decisive shift in the labor market.

“The trend now is definitely up,” former Federal Reserve governor Larry Meyer told CNBC Friday. “The economy is regaining momentum and we are on the path for above-trend growth. This [number] is much stronger than expected.”

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