US economy and finance live updates: Social Security checks, unemployment rate, Fed interest rate hike...
Headlines: Sunday, 7 May 2023
- US economy added 253,000 jobs in April; the unemployment rate fell slightly to 3.4 percent
- The unemployment rate for Black workers hits a historic low.
- Dow posted biggest one-day gain since January on Friday
- Positive news from the labor market came as the Fed increased rates by 0.25 percent, leading them to climb above five percent for the first time in over a decade.
- Around 1.8 million workers are currently receiving unemployment benefits.
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Source: AS USA
