211,000 people found new jobs in April as hiring rebounded from a shakey showing in early spring, offering fresh evidence the U.S. economy is still growing at healthy clip and providing fuel for the Federal Reserve to raise interest rates soon. The unemployment rate, meanwhile, dipped to 4.4% from 4.5% to set a post-recession low. The last time the rate was so low was in May 2007, shortly before the onset of the Great Recession.
The marker for real progress in the jobs market was always considered to be when people who were too discouraged to even look for a new position were back in the labor market. The so-called U-6 rate fell in April to the lowest level since the depth of the recession. At 8.6%, it is now well below the 17.1% peak it hit as the U.S. escaped recession.
Berkshire Hathaway’s annual meeting started today, and shares in Buffett’s conglomerate closed Thursday at a price of $249,540 each.
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
