US unemployment rate lowest in 4 years

US unemployment rate lowest in 4 years

US unemployment rate lowest in 4 years

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by KGW Staff

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kgw.com

Posted on May 3, 2013 at 4:32 PM

Updated Friday, May 3 at 4:34 PM

WASHINGTON – The nation’s unemployment rate is down to 7.5 percent according to the latest jobs numbers. That’s the lowest jobless rate in four years.

The progress comes despite higher payroll taxes and government furloughs. An estimated 165,000 Americans were hired in April, the report showed.

President Barack Obama, speaking in Mexico, said it’s a good sign, but more work is necessary.

“Let's do more to expand the trade and commerce that creates good jobs for our people,” he said Friday at a press conference in Mexico.

Even some Republicans were impressed by the numbers.

“There are some signs that maybe the labor market is finally starting to turn around," said former Mitt Romney advisor Kevin Hassett.

Construction was the only major industry to see job losses nationwide in April, but construction has been a bright spot in the Oregon economy.

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