A surge in job creation in April plus a large upward revision in jobs created the previous two months dropped the official unemployment rate to 7.5%. U.S. employers added 165,000 jobs in April, and hiring was much stronger in the previous two months than first thought. The gains trimmed the unemployment rate to a four-year low of 7.5 percent. The Labor Department report showed the job market is improving despite higher taxes and government spending cuts. In addition to the April gains, the government said employers added 138,000 jobs in March and 332,000 in February. That's 114,000 more over the two months. The economy has created an average of 208,000 jobs a month from November through April. That's above the 138,000 added in the previous six months. But while the rate for those employed or actively looking for work dropped, the broader measure of unemployment - the so-called U-6 - increased from 13.8% to 13.9%: But there was an area of concern in the report as a...(Read Full Post)