Saturday, May 7, 2011

Job Engine Shifts to Higher Gear

Saturday, May 7, 2011

Companies cranked up hiring in April to the fastest pace in five years, easing fears that a recent lull in economic growth would mean fewer new jobs.

The government snapshot of the labor market showed the U.S. created 244,000 jobs in April. The private sector added 268,000 positions—the largest jump since 2006—offset by continued cuts at all levels of government. Most economists saw the month's strong job gains as confirmation that a recent slowdown in the economic expansion was likely temporary and that growth will pick up.

The report cheered investors and helped ease worries of a slowdown that sparked ...

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