288,000 Jobs Added in April; Unemployment Rate Falls to 6.3%
Stocks end down today despite the better than expected April jobs report being released. Employers added 288,000 jobs in April, the most jobs added in a single month in over two years. The unemployment rate also fell to 6.3% from 6.7%, which is currently at the lowest rate since September 2008. The Commerce Department announced that factory orders increased for the second straight month, up 1.1% in March. A boost in factory production is expected in the next couple months, which will help the economy emerge from the winter slowdown. T-Mobile's (TMUS) aggressive marketing tactics proved to pay off in the first quarter; the wireless carrier had more customers sign up in the first quarter than all of their competitors combined.Despite the massive growth, they were unable to turn a profit.
Word on the Street
- Employers added 288,000 jobs in April
- Mozilla is developing a $25 smartphone.
- Subway's new partnership will help it target a new audience.
- Apple's (AAPL) new purchase may help improve battery life.
- Should Twitter (TWTR) split itself into different apps?
- LinkedIn (LNKD) stock lower after posting loss.
Published on May 2, 2014By InvestorGuide Staff