US hiring rebounds; jobless rate hits seven-year low

The US economy pumped out a solid 223,000 new jobs in April and unemployment ticked down to a seven-year low of 5.4 percent, the Labor Department said Friday. The Labor Department's monthly jobs market report was roughly in line with expectations, reversing a dismal performance in March, when the number of jobs generated was just 85,000. The jobs report was "much better than in March, but still not by enough to fully offset March's weakness," said Jim O'Sullivan of High