The economy added 115,000 jobs in April as the unemployment rate edged down to 8.1%.  Personal income rose 0.4% in March as spending rose 0.3%.  Productivity declined at an annual pace of 0.5% in the 1^st quarter.  The ISM index rose 1.4 points to 54.8 in April as the ISM services index declined 2.5 points to 53.5.  Auto sales were up 0.4% in April.  Factory orders fell 1.5% in March.  Initial jobless claims declined 27,000 to a level of 365,000 for the week ended 4/28. 

• The economy added a lower-than-expected 115,000 nonfarm payroll jobs in April as the unemployment rate edged down to 8.1%.  The labor force declined by 342,000 while the labor force participation rate fell to a more than 30 year low of 63.6%.  Private payrolls rose by 130,000 while government employment was down 15,000.
• Personal income increased 0.4% in March as personal spending rose 0.3%.
• Productivity declined at an annual rate of 0.5% in the 1^st quarter, according to the preliminary estimate. This follows growth of 1.2% in the 4^th quarter of 2011.
• The ISM index surprised on the upside with a 1.4 point gain to 54.8 in April.
• The ISM services index declined by a greater-than-anticipated 2.5 points to 53.5 in April.
• Auto sales edged up 0.4% to an annual rate of 14.42 million units in April. Sales were up 9.5% from a year ago.
• Factory orders fell 1.5% in March.
• Initial jobless claims declined 27,000 to a level of 365,000 for the week ended April 28^th.