London, May 4 (ANI): Stock markets rose to record levels after 165,000 new jobs were added last month, marking a four-year low in US unemployment.
Joblessness fell to 7.5 percent in April that pushed the Dow Jones Industrial Average past 15,000 briefly and saw Standard & Poor”s 500-stock index pass 1,600 for the first time.
According to the Guardian, after the initial surge the Dow Jones Industrial Average edged back below 15,000 in the afternoon, while Standard & Poor’s 500-stock index also slipped back below 1,600.
The number of long-term unemployed, those jobless for 27 weeks or more, declined by 258,000 to 4.4 million and their share of the total declined by 2.2 percentage points to 37.4 percent.
Over the past 12 months the number of long-term unemployed has decreased by 687,000, and their share has declined by 3.1 points.
According to the report, the BLS the private sector added 176,000 new jobs last month. Professional and business services added 73,000 jobs in April and have added 587,000 jobs over the past year. (ANI)