Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Latest Jobs Reports Suggest Growth In Economy
WASHINGTON (5/6/13)--The U.S. economy added an estimated 165,000 jobs in April, the Labor Department said Friday.

That job growth, along with a national unemployment rate of 7.5%--a four-year low--suggests steady but measured economic growth, and indicates employers are upbeat about the economic outlook amid federal budget cuts (The Wall Street Journal, The New York Times and Bloomberg.com May 3).

April's payroll gain follows an upwardly revised 138,000 in March, an increase from an initial estimate of 88,000, according to Labor Department figures.   

The economic recovery's erosion has been greatly exaggerated, Eric Green, global head of Research at TD Securities Inc. in New York, told Bloomberg. The job market is not imploding and is in better condition than generally thought, although it is in a soft spot, he added.

However, many new jobs were in lower-paying sectors such as food services and retail. Restaurants added 38,000 employees in April, and retail stores added 30,000 workers, Steve Blitz, chief economist at ITG, told the Times

Although the current hiring is good, the economy is not generating high-income jobs, Blitz added.
RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
16 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
17 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
17 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
18 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
18 hours ago