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Back in Business: Jobs Picture Brightens in April

Jeff Cox
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Job creation accelerated in April, with the U.S. economy adding 165,000 new positions and the unemployment rate edging lower amid worries over a spring slowdown.

New figures from the Bureau of Labor Statistics indicated that a light March payrolls report may have been an aberration, as higher taxes and reduced spending due to the fiscal stalemate in Washington failed to deter growth.

The unemployment rate fell to 7.5 percent.

Economists had been estimating tepid payroll growth of just 150,000 for the month.

Stocks, which have ripped higher in 2013 thanks for aggressive Federal Reserve policy, took some cheer from the report, with futures indicating a positive open on Wall Street.

The payrolls beat comes as economic indicators have shown consumers under increasing pressure and unwilling to spend. However, those trends may be temporary if hiring can continue to improve.

Revisions from previous reports were substantial, with March's 88,000 jacked up to 138,000. The February report soared from an originally strong 268,000 to 332,000.

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