Economic News a Mix in Latest Labor Report

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Unemployment is still on the rise but jobs are being added in the U.S. economy.

The Labor Department's report for April showed unemployment was up one-tenth a percent at 7.6 percent of the U.S. population on the unemployment records.

The good news is that 175,000 jobs were added across the country.

Employers have added an average of 155,000 jobs the past three months. Last month's gain almost matches the average 12 month increase of 172,000 a month.

The economy has grown at an annual rate of 2.4 percent this year.

However, economists are concerned spending cuts and higher social security taxes will slow the rate next quarter.

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