JOBLESSNESS: The Party May Be Over

The Party May Be Over

In the clearest signal yet that the U.S. economy may be heading into the doldrums after a 6 1/2-year expansion, the Government reported last week that the unemployment rate jumped to 5.3% in April, up from 5% the previous month. The hefty increase reflected a surge of 395,000 people into the labor force as the number of jobs fell by 23,000.

Wall Street gave the report a mixed reception as economists debated whether the figures foreshadowed merely sluggish growth or a genuine recession. Bullish investors initially set off a rally Friday on the assumption that inflation might no longer be a...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!