Unemployment Rate Drops to 6.3%
Posted at 8:40 a.m. on May 2, 2014
“Americans gained jobs at the fastest pace in more than two years last month and the jobless rate plunged, a sign the economy has rebounded from a winter rut,” the Wall Street Journal reports.
“Nonfarm employment grew a seasonally adjusted 288,000 last month, the Labor Department said. That marked the best month of job creation since January 2012 and the second-best month since the economy emerged from recession in mid-2009. The jobless rate fell to 6.3% from 6.7%, hitting the lowest level since September 2008.”
New York Times: “The consensus among economists polled by Bloomberg before the Labor Department’s announcement Friday morning called for an increase of 218,000 in nonfarm payrolls, with the unemployment rate falling by 0.1 percent to 6.6 percent.”