The Obama Diary

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All times Eastern:

10:15 AM: The President delivers remarks at the Anthropology Museum, Mexico City (White House live)

10:30: VP Biden and Sec of State Kerry deliver remarks at the American Foreign Service Association (AFSA) Memorial Plaque Ceremony at the State Department (White House live)

12:25: President Obama meets with Mexican entrepreneurs

1:25: Departs Mexico City

4:0: Arrives San Jose, Costa Rica

4:35: Meets and greets with United States Embassy personnel

5:40: The President and President Chinchilla hold a bilateral meeting

6:30: The President and President Chinchilla hold a cultural event with Costa Rican youth

7:15: Press conference

7:30: VP Biden speaks at the South Carolina Democratic Party’s 2013 Jefferson-Jackson Dinner (C-Span)

7:35: President Obama participates in a photo with Central American Integration System leaders

9:0: Central American Integration System leaders meet for a working dinner

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Bloomberg: Employment picked up more than forecast in April and the jobless rate unexpectedly declined to a four-year low of 7.5 percent, showing the early stages of government budget cuts failed to destabilize the U.S. labor market.

Payrolls expanded by 165,000 workers last month following a revised 138,000 increase in March that was larger than first estimated, Labor Department figures showed today in Washington. The median forecast of 90 economists surveyed by Bloomberg projected a 140,000 gain. Revisions to the prior two months’ reports added a total of 114,000 jobs to the employment count in February and March.

More here

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A snapshot of U.S. job creation in 2013: 165K jobs added in April; 138K in March; 332K in Feb.; 148K in Jan. on.mktw.net/16yqBcq

— MarketWatch (@MarketWatch) May 3, 2013

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Steve Benen: After the discouraging jobs report a month ago, many were eager to see the latest report from the Bureau of Labor Statistics this morning to see whether the jobs market would bounce back or continue to deteriorate.

For now, it looks like the former. The U.S. economy added 165,000 jobs in April, more than expected, and overall unemployment rate dropped to 7.5%, its lowest point in four-and-a-half years. As is usually the case, there was a gap between the two major sectors – America’s private sector added 176,000 jobs last month, while spending cuts caused the public sector lose 11,000 jobs.

…. February was revised up from 268,000 jobs to 332,000, making it the single best month for job creation since 2005 (excluding temporary Census hiring). March was also revised up, from 88,000 to 138,000. In other words, as of this morning’s report, the previous two months added an additional 114,000 jobs we didn’t previously know about.

More here

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QUICK. Find bad news. RT @jimpethokoukis: Breaking: US April Jobs Report: 165,000 net new payrolls; 7.5% U-3 unemployment rate

— LOLGOP (@LOLGOP) May 3, 2013

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Good thing Detroit did not go bankrupt. American Auto Industry Has Best Performance in 20 Years bloom.bg/1047AX0 via @bloombergnews

— David Plouffe (@davidplouffe) May 2, 2013

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