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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
May 07, 2005
Page
9
Hiring rose by 274000 in April lifting unemployment to 5.2 percent and signaling a rebound from March's soft patch. February and March gains were revised up by 93000, while unemployment remained steady and earnings edged to 16.00 per hour.
The April employment data showed 274,000 new jobs, topping expectations, with February and March gains revised up. Investors warned higher growth could push inflation and spur the Fed to tighten rates, despite the Dow edging higher 0.05 percent to 10,345.40. The S&P 500 and Nasdaq mixed as optimism met concern over oil prices and policy.
Qwest chief Richard Notebaert said the company could renew its bid for MCI if shareholders push to replace MCI's board. Omega Advisors' Leon Cooperman noted a broad shareholder call for reconsideration, while Notebaert declined to disclose bids and quoted song lyrics about knowing when to fold.
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