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U.S. Jobless Rate Hits Four-Year Low of 7.5%
Employers added 165,000 jobs in the U.S. last month, the Dept. of Labor reports.
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Employers added 165,000 jobs in the U.S. last month, the Dept. of Labor reports.
The country's unemployment rate fell from 7.6% in March to 7.5%, the lowest level since December 2008. The jobless rate has dropped 0.4 points since the start of this year, although it remains historically high.
Economists also were encouraged because the Labor Dept. revised March's unusually low hiring estimate of 88,000 jobs upward by 50,000 jobs. The government also boosted the February payroll number by 64,000 positions to a robust 332,000 jobs.
From November through April, the American economy added an average of 208,000 jobs per month compared with 138,000 jobs in the previous six months. The gains have come despite sharp declines in federal spending since January because of the budget crisis. Government payrolls declined by 11,000 jobs last month.
Most of April's employment gains were in the service sector. Manufacturing hiring was flat, and construction companies shed jobs.
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