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CBS 2 - Search Results

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U.S. Unemployment Falls to 6.3%

WASHINGTON, D.C. (CBS 2/FOX 28) -- The Labor Department reported Friday that American employers added 288,000 jobs in April, sending the unemployment rate down to 6.3%.  The job spike is the highest one-month increase in jobs since 2012.
   Overall, the number of unemployed Americans dropped by more than 730,000, bringing that figure below the 10-million mark.
   The unemployment rate also fell for nearly all race and age groups, ranging from 5.3% for whites to 11.6% for blacks and 19.1% for teens.
   Long term unemployment also dropped, 3.5 million Americans have been out of work for 27 weeks or more.  Economists say it could take another two years or more to bring down that figure significantly and return unemployment levels below 5%.
   Friday's numbers come after comments from the fed indicating that employers are beginning to accelerate hiring and expansion after a stagnant first quarter.  Many analysts blame the road bump on a brutal winter and the aftermath of the government shutdown.
   The Labor Department says the number of Americans giving up looking for a job or leaving the workforce largely remained unchanged.  Most of the job gains came in lower-paying industries, including temporary jobs, hotels  and retail.
 
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