U.S. hiring bounced back stronger than expected in April
The Labor Department reported Friday that the U.S. economy added 211,000 jobs in April, a stronger than expected rebound from March's disappointing job gains, which were adjusted down to 79,000 from the 98,000 initially reported. Economists polled by Bloomberg had estimated on average that 190,000 new jobs were added last month. The weakness in hiring in March, which already had the smallest gains in 10 months before the downward adjustment, has been blamed on unseasonably warm weather in January and February, which caused premature seasonal gains in such weather-sensitive industries as construction and leisure. The April figure nudged down the unemployment rate to 4.4 percent, from 4.5 percent. Wages showed a 2.4 percent increase over the last year, down slightly from the 2.5 percent reported the month before. The April report provided the latest evidence that the economy remains on track with Federal Reserve expectations for continued "moderate" economic growth.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.
-
Will college Gaza protests tip the US election?
Talking Point Gaza protests on U.S. campuses pose problems for Biden like the ones that hurt Lyndon B. Johnson in the '60s
By Harold Maass, The Week US Published
-
Crossword: May 10, 2024
The Week's daily crossword puzzle
By The Week Staff Published
-
Sudoku hard: May 10, 2024
The Week's daily hard sudoku puzzle
By The Week Staff Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published