Jobless Rate Falls to 7.5 Percent, 4-Year Low

8:13 AM, May 3, 2013   |    comments
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(Washington) -- The Labor Department said Friday that employers added 165,000 jobs in April, topping last month's anemic labor growth although still short of the kind of expansion required to quickly reduce unemployment.

The unemployment rate ticked down to 7.5 percent, from 7.6 percent the previous month.  

After picking up in the third quarter of last year, economic growth has weakened in recent weeks. Gross domestic product-- the value of all goods and services produced in the U.S. -- fell to 0.4 percent in the fourth quarter of 2012, down from 3.1 percent in the third quarter. The economy has continued to leak air this year. Growth in the January-to-April period was 2.5 percent, the Commerce Department announced last week, below consensus forecasts that had predicted at least 3 percent growth.

(cbsnews.com)

 

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