From the Marketplace Datebook, here's a look at what's coming up Friday, May 2:
In Washington, the Labor Department reports on the employment situation for April.
The Commerce Department reports on March factory orders.
Will it rain? Shine? Snow? Hurricane? The Weather Channel debuted on this date in 1982. How did we get dressed without it?
And in 1936 Sergei Prokofiev's symphony, "Peter and the Wolf," premiered at the Moscow Children's Musical Theater.
Sticking with our musical theme: it's International Tuba Day.
A job applicant and a potential employer shake hands at the 'Denver Hires Job Fair' in Denver, Colorado.
[UPDATED: FRIDAY, MAY 2, 2014, 9:58am ET]: The April 2014 jobs report from the Department of Labor shows much stronger employment growth than economists expected, and a significantly lower unemployment rate. The unemployment rate fell 0.4 percent to 6.3 percent in April.
Nonfarm private- and public-sector payroll jobs rose by 288,000 in April. The consensus expectation was 215,000. Job gains came across the board, in white- and blue-collar jobs: Professional and business services (+75,000), temporary employment (+24,000), retail trade (+35,000) with car dealerships particularly strong. Bars and restaurants added 33,000 jobs and construction added 32,000 jobs, a welcome recovery for a housing sector that has seemed weak in recent months. Health care and mining also rose strongly. Manufacturing and government jobs were both essentially unchanged.
The unemployment rate decline appears very favorable on its face -- 6.3 percent is the lowest unemployment rate since September 2008, as the financial crisis was raging. It hit a peak of 10 percent in October 2009, before beginning its painstakingly slow, steady decline to April 2014’s level.
One force driving the unemployment rate down is a decline in the labor force participation rate -- to 62.8 percent in April. The number of people in the civilian labor force -- those either working, or unemployed and actively looking for work -- declined by 806,000, after increasing by 503,000 in March. Data from the household survey -- the source of labor force measures -- is considered more volatile than the job-creation numbers derived from the Establishment Survey, and it might be a few months before these trends settle out more clearly.
Job gains turn out to have been better than previously reported during the winter, when the economy slowed dramatically amid severe weather events. February’s figure was revised up from +197,000 to +222,000, and March was revised from +192,000 to +203,000. That puts the three-month average at 238,000. That could signal a moderate, but significant, acceleration of job-creation in the economy. At some point, faster wage growth could even follow.Marketplace Morning Report for Friday May 2, 2014by Mitchell HartmanPodcast Title Finally, April was probably a 'pretty good' month for jobsStory Type News StorySyndication SlackerSoundcloudStitcherSwellApp Respond No
Popular gel nail polishes last for weeks, but the ultraviolet light used to cure them may cause premature skin aging and increase risk of cataracts, doctors say.
The U.S. economy nearly stalled out from January through March. While that might be a snapshot of what was then, it is not what is now.
Twitter's stock hit a new low this week, and it seems that right now Wall Street doesn’t have much love for the social-media sector. Despite revenue growth, the sector is seeing a slowdown in users signing up and in advertising sales. Could LinkedIn weather the storm better than its competitors?
Just a few months ago health care navigators wanted desperately to get young people to sign up for the Affordable Care Act. There was an all-out advertising blitz aimed towards young people between the ages of 18 and 34 to get them to sign up for health insurance. But it seems like everybody forgot something. None of the famous people who made commercials for Obamacare mentioned the part of the law that lets young people who aged out of foster care sign up for extended Medicaid, and keep it until age 26.
Al Feldstein, who edited the iconic satire magazine from 1956-1984, turned it into a must-read for baby boomer-era adolescents.
Big cable companies continue to just get bigger. In response to Comcast and Time Warner's merger earlier this year, AT&T and DirecTV are thinking of doing the same. Which got former FCC chairman Michael Powell thinking: Why are all these mergers happening?
"One of the things I think is a serious issue is that the economy has been strained," he said. "I think the model has to find a way to find more affordable, more accessible packages, given the strains of the economy."
A la carte, however, is not one of the ways to get around the strain.
"True a la carte...would actually cost consumers a lot more," he said. "If something like ESPN--which is sold to the cable system for a little over $5 a [subscription]--had to be sold a la carte, that product would be sold for $20 or $30."
One of the possible solutions, of course, might lie in the ubiquity of the internet. But Powell--now the CEO of the National Cable and Telecommunications Association--says the so-called internet "fast lane" the FCC had considered is not the answer.
"[Netflix] can't afford to have jittery or interrupted bits," he said. "You want to watch a two hour movie that is uninterrupted, so making sure the network can handle that level of quality is what the buyer wants."
Powell, however, still likes to consume his programming on the big screen, via video on demand. True Detective in particular.