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U.S. job growth hits 11-month high

Friday, May 06, 2011 - 01:10

May 6 - U.S. employers added the most jobs in nearly a year in April, a sign of economic strength, but unemployment rose as well to 9.0 percent. Conway G. Gittens reports.

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The American job market received a major boost in April. Employers created the most jobs in 11 months with the private sector doing the heavy lifting. Private payrolls posted their largest increase in over five years. According to the Labor Department: 244,000 new jobs were created overall, which topped Wall Street forecasts. But a jump in the unemployment rate was also a surprise. The jobless rate climbed to 9.0 percent from 8.8 percent. The report is a good sign, says Beth Ann Bovino of Standard & Poor's . SOUNDBITE: BETH ANN BOVINO, ECONOMIST, STANDARD & POOR'S (ENGLISH): "It gives us a little bit more confidence that this recovery is in place. However, the unemployment numbers, the bump-up in there is also a surprise, that could very well be people feeling a bit more confident - people who left the job market feeling a bit more confident that they can get a job this time around." But despite seven straight months of job creation, it's still tough out there, nearly 14 million Americans remain out of work. Conway Gittens, Reuters

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U.S. job growth hits 11-month high

Friday, May 06, 2011 - 01:10