Note: As often happens, the previous week's figure is a slight revision from what was reported earlier. Initially, the ETA said there had been 324,000 first-time claims during the week ending April 27. Now, it says there were 327,000 that week.
Federal workers say they don't have much to celebrate these days.
Furloughs began in April, exacerbating already low morale for many government agencies as budgets have tightened. Downsizing has meant more work for those who remain, and talk of further cuts has many worried about job security. This year is also the third that federal workers haven't received a pay increase, contributing to discontent.
This is WEEKEND EDITION from NPR News. I'm Scott Simon. The economy added 165,000 jobs in April. That exceeded the expectations of economists. It also drove down the unemployment rate to a four-year low, 7.5 percent. Unfortunately, the biggest gains were in lower-paying fields like hospitality and temp agencies. And as the school year comes to a close and young people start looking, the question is will there be enough work for them. NPR's Sonari Glinton reports.
The nation's unemployment rate hit a four-year low of 7.5 percent and the job market improved last month. Friday's news helped push the Dow Jones industrial average above 15,000 for the first time.
Was that a rational response?
Although the jobs report for April was positive, what triggered the market reaction was the fact that it was better than expected. Instead of 145,000 jobs created, as most economists predicted, the Labor Department says there were 165,000 new jobs.
NPR's business news begins with some good economic news.
The Dow Jones Industrial Average hit 15,000 for the first time ever this morning. The S&P 500 also hit a record high. All of this came just after the release of a positive jobs report. The Labor Department says 165,000 jobs were created in April. Economist have been expecting about 150,000 new jobs last month.