“U.S. economy showing gains, but healing is slow”

By: Labiba - May 06th 2013

A cleaner sweeps the floor of the New York Stock Exchange after the closing bell, Friday, May 3, 2013. (AP / Richard Drew)

Paul Wiseman,

The Associated Press 

Published Saturday, May 4, 2013 1:05PM EDT

WASHINGTON — The American economy and job market are moving in the right direction, just not very quickly.

The news Friday that U.S. employers added a solid 165,000 jobs in April and unemployment fell to a four-year low of 7.5 per cent came as a relief.

The Dow Jones industrial average surged 142 points, or 1 per cent, on the news to close at a record 14,973. The better-than-expected April numbers erased worries that the U.S. economy was stalling for the fourth year in a row — a fear that had emerged after a disappointing jobs report for March. Friday’s report also showed job growth in March and February was stronger than first estimated.

Nearly four years after a devastating recession, the U.S. economy and job market are far from a full recovery, but they have made steady progress. Here is an overview of America’s economic health:

Hiring: Picking up but facing a long slog

http://www.ctvnews.ca/business/u-s-economy-showing-gains-but-healing-is-slow-1.1266903#ixzz2SWRhfFhM