Nightly News   |  May 03, 2013

Unemployment rate at a four-year low

Despite lower unemployment numbers and a good day on Wall Street, many Americans are saying the jobs picture is still a work in progress. CNBC’s Maria Bartiromo reports.

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>>> we turn now to the good news to end the week on the u.s. economy and jobs. the labor department said 165,000 jobs were added last month bringing the unemployment rate down to 7.a 5%, a four-year low. wall street celebrated. the dow industrials crossed the 15,000 fresh tlold hold for the first time before dropping back. the average finished up 142 points to a new record. nasdaq gained 38. s&p was up almost 17. despite this good feeling the jobs picture is still very much a work in progress . maria bartiromo is here from cnbc with more on that. good evening.

>> good evening. the markets reacted to positive economic data for a change as opposed to reacting to the federal reserve stimulus. and the reaction began as soon as the numbers came out. an historic day on wall street today with a big rally.

>> breaking news this morning. a few minutes ago the dow crossing 15,000.

>> reporter: the market took off this morning after a far better april jobs report than anyone excted. the stock market based on the dow jones industrial average up 14% for the year. in addition to the 165,000 jobs added in april, it turns out that 114,000 more jobs were added in february and march than first reported. the unemployment rate now at 7.5%. the lowest since december of 2008 .

>> the recovery remains on track. that's the good news. the bad news is it's still uneven. we'd like to see a more even recovery to get the economy to where we want it to be with unemployment not a problem for a lot of americans.

>> reporter: there is good news in kansas city where ford is hiring 2,000 people.

>> to build the economy of the future, you have to have the p in gdp. you have to make things. you have to have products.

>> reporter: 900 workers are needed on a third shift to build the f-150 ford truck. another 1100 to build a new version of the transit. at a nearby union office gary conkling learned his year of unemployment is over.

>> to put in a third shift and hire another shift when the transit comes is a good opportunity for people especially in this community.

>> reporter: 17 million americans are still unemployed or underemployed. in miami the owners of the miami dolphins were taking names for 4,000 potential new jobs as they pressure lawmakers to approve a hotel tax to pay for upgrading the dolphins stadium .

>> i hope i will be employed. that's my expectation.

>> reporter: it may be political hardball, but plenty of people still need jobs. it's very important to note that part of the reason the unemployment rate is moving lower is because people have stopped looking. they have not been able to find a job so they are out of the counting. we are still waiting for more information, brian. we need to know what the payroll tax increase is going to do to the economy as well as the sequester. we could see continued bumpiness in terms of job creation . it's good news to see the numbers moving in the right direction.

>> so many people anxious for any bit of good news on this.