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April Unemployment Rate Rises To 9 Percent, 244K Jobs Created


Friday brought some good economic news for President Obama – even though the unemployment rate nudged higher.

Employers added 244,000 jobs in April — a welcoming surprise — but the unemployment rate still ticked up to 9%.

The new jobs, much higher than the expected 185,000, represent the biggest hiring spree in five years. There were gains in retail companies, factories, financial companies, health care and education.

And private employers added 268,000 positions, the most since February 2006.

Meanwhile, federal, state and local governments all cut jobs.

Analysts say the unemployment rate edged up from 8.8% since March (the first increase since November), as the pool of 13.7 million Americans continue looking for work.

(Source: NY Daily News)



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