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.

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Published on May 2, 2014
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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