Hiring Up, Jobless Rate Falls To 7.5%

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job seekers: unemployment fallsBy Christopher S. Rugaber

WASHINGTON -- U.S. employers added 165,000 jobs in April, and hiring was much stronger in the previous two months than the government first estimated. The job increases helped reduce the unemployment rate from 7.6 percent to a four-year low of 7.5 percent.

The report Friday from the Labor Department was a reassuring sign that the U.S. job market is improving despite higher taxes and government spending cuts that took effect this year.

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The government revised up its estimate of job gains in February and March by a combined 114,000. It now says employers added 332,000 jobs in February and 138,000 in March. The economy has created an average of 208,000 jobs a month from November through April -- above the 138,000 added in the previous six months. An additional 210,000 people started looking for work in April, and many of them found jobs.

"This is a good report," said John Silvia, chief economist at Wells Fargo. "There's a lot of strength ... It's good for the economy. It's good for people's income."

The stronger job growth suggests that the federal budget cutting "does not mean recession," Silvia said. "It does not mean a dramatic slowdown." Stock futures rose immediately after the jobs report was released at 8:30 a.m. Eastern time.

More: More Than 1 Million Baby Boomers Are Secretly Unemployed

The unemployment rate has fallen 0.4 percentage point since the start of the year, though it remains high. The Federal Reserve has said it plans to keep short-term interest rates at record lows at least until unemployment falls to 6.5 percent.

The hiring last month was broad-based. The only sectors of the economy that cut jobs last month were construction and government. Professional and business services, which includes high-paying fields such as accounting, engineering and architecture, added 73,000 jobs. Retailers added 29,000 and health care 19,000. The average workweek for private-sector employees declined 0.2 hour to 34.4 hours, but average hourly earnings rose 4 cents to $23.87.

A fire overnight at the Labor Department's headquarters shut down the building for most employees. Members of the news media were allowed in for the release of the jobs report.






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tz1030

Hmmmm. I keep reading reports about how the number of people in the US Workforce is dropping and at the same time reading about how the unemployment rate is also dropping. Anyone besides me see how stupid this all is?

May 06 2013 at 5:55 PM Report abuse rate up rate down Reply
I Made This

What a joke! People are hiring one more person and push everyone under 30hrs so they can stay under the new obama facist regimeOcare rules

May 06 2013 at 3:59 PM Report abuse rate up rate down Reply
sstuczynsk

If you believe those numbers, I have a bridge in New York I would like to sell you. These numbers do not count all the millions of people who have given up looking for jobs or who are under employed. These numbers and the numbers measuring inflation ae reported in such a way to make Obama look good.

May 06 2013 at 2:09 PM Report abuse +2 rate up rate down Reply
DMP1510

rich paddy rich
open your eyes and ears.
THE REPUBLICANS DO NOT WANT OUR ECONOMY TO FAIL> obama WANTS IT TO FAIL SO HE CAN BLAME THE REPUBLICANS. HE HAS ALL THE MONEY HE NEEDS TO LIVE COMORTABALLY IN HIS HOMELAND IN AFRICA. HE WANTS TO DESTROY HIS HATED COUNTRY , THE U S A. WHEN HIS RADICAL SPENDING GOES OVER THE EDGE OF POSSIBLE RETURN THEN HE HAS ACCOMPOLISHED HIS LIFES DREAM. OUR COUNTRY DIES AND HE LIVES LIKE A KING IN AFRICA.

May 06 2013 at 9:45 AM Report abuse -1 rate up rate down Reply
3 replies to DMP1510's comment
elginrancher

More lies from the White House Disaster.

May 06 2013 at 9:37 AM Report abuse +2 rate up rate down Reply
1 reply to elginrancher's comment
cbsguards

More refusal to accept the facts

The department and methods to calculate unemployment have not changed in years so why is good new bad for you or the country
Like it or not Obama has helped this country despite you that see nothing good from progress

May 06 2013 at 10:18 AM Report abuse -5 rate up rate down Reply
DMP1510

when you lose your unemployment benifits and still don't have a job, obama puts you on the working class side of the equasion. pretty soon everyone will be considered as working and the numbers will make our dictator look like messiah again. 100 % working and 0 % jobless. oh he is so smart. maybe our 53 % idiots will vote for him again. they believe anythink the media and obama says. plus they think the free milk and honey will never end.

May 06 2013 at 9:33 AM Report abuse +5 rate up rate down Reply
1 reply to DMP1510's comment
cbsguards

Why deny the facts? You do understand this number and the methods to accumulate it has not changed in years.Why do you hate America so much

May 06 2013 at 10:19 AM Report abuse +1 rate up rate down Reply
Mike

WOW!!! 34.4 hours per week average and an increase of FOUR CENTS per hour. GREAT NEWS??? Hardly! With the actual rate at over 14%, the media continues to preach this load of baloney. REALITY says otherwise. Wait until Obamacare takes full effect and then lets see what other snake oil they will sell.

May 06 2013 at 8:54 AM Report abuse +5 rate up rate down Reply
1 reply to Mike's comment
cbsguards

WE can't wait for Obamacare to take full effect

When will the conservatives come up with one prediction that actually becomes true
The REP send a billion dollars warning us of how Obamacare was going to destroy the country. Well jobs growing economy growing health care improvement and not one prediction is correct
Thanks for the sour grapes we like our country and Obama

May 06 2013 at 10:21 AM Report abuse -4 rate up rate down Reply
axman922

peter . draggin well thought out and executed I had thoughts similar to you but RIGHT ON BROTHER You said a mouthful they play with the numbers so it looks like its getting better ( maybe it is SLOWLY doing this ) so they stand up and pat themselves on the back ( when they havent done a damn thing ) the last two presidents have really been the worse thing this country needed and if it keeps goin this way very much longer I fear for my grandkids and my great grandkids along with everyone elses .... in order to bail this mess out they will probably have to become SLAVES! this mess is going to cost more than anyone can imagine.... sad to think the same greedy idiots are still running the show....

May 04 2013 at 1:48 AM Report abuse +2 rate up rate down Reply
redwingirish

The powers that be ALWAYS fudge on these numbers. A good rule of thumb is to double their numbers for accuracy. Right now we are looking at about 15%.

May 03 2013 at 9:01 PM Report abuse +1 rate up rate down Reply
rich_paddlyrich

This is great news!!!!!! This is not good news for the republicans who want Obama to fail along with our economy......

May 03 2013 at 5:11 PM Report abuse -1 rate up rate down Reply

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