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JEFFREY BROWN (Newshour): Solid job growth in April and positive revisions to previous months. Today's Labor Department figures eased worries about the U.S. economy.
In all, the economy added 165,000 jobs last month, primarily in the private sector, retail, restaurant and health care industries. The stronger-than-expected hiring helped reduce the nation's unemployment rate a modest 0.10 percent to 7.5 percent, the lowest level since December 2008.
A further key element of today's good news: dramatic revisions upward in the number of new jobs created in February and March by a total of 114,000. With the revisions, February payrolls increased to 332,000 jobs, while March gains stood at 138,000.
White House Council of Economic Advisers Chair Alan Krueger said the hiring numbers reflect an improving job market, in spite of federal spending cuts from the sequester, which he took the opportunity to criticize.
ALAN KRUEGER, Chairman, White House Council of Economic Advisers: Today's report and other data coming in shows the resilience of the U.S. economy. The economy is healing from the scars of the great recession, but there's a ways to go. We're not back to full health. And we could put more people back to work more quickly if we had more sensible fiscal policy coming out of Washington.
"Brutal Job Search Reality for Older Americans Out of Work for Six Months or More" PBS Newshour 5/3/2013
Excerpt
SUMMARY: Despite a rosier jobs picture in April, for Americans ages 55 or older who have been unemployed long-term, the prospect of finding work is greatly limited. Economic correspondent Paul Solman explores why older workers face joblessness and considerable financial strain.
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