Skip to main content

America In Focus: Jobs and a solid showing by big companies dominated news on the economic front

By The Associated Press

In the past week, many Americans remained focused on the economy, inflation and how those forces could impact their lives. Trips to the grocery store or gas station are more painful than they were last year, and that is impacting the decisions of both households and businesses.

Here’s a snapshot of prominent economic data and news that occurred over the past week and what it potentially means for you.

U.S. employers added a surprising 115,000 jobs last month

America’s employers delivered a surprising 115,000 new jobs last month despite an economic shock from the Iran war.

Hiring was better than the 65,000 forecasters had expected, though it decelerated from the 185,000 jobs created in March. The unemployment rate remained at a low 4.3%, the Labor Department reported Friday.

Healthcare added 37,000 jobs last month and retailers 22,000. However, manufacturers cut 2,000 jobs in April and have shed 66,000 jobs over the past year despite President Donald Trump’s protectionist policies aimed at creating factory jobs.

Average long-term U.S. mortgage rate rises

The average long-term U.S. mortgage rate rose again this week, reflecting ongoing bond market volatility as surging oil prices due to the war with Iran heighten inflation worries.

The benchmark 30-year fixed rate mortgage rate rose to 6.37% from 6.3% last week, mortgage buyer Freddie Mac said Thursday. That’s still down from one year ago, when the rate averaged 6.76%.

This is the second straight weekly increase, bringing the average rate back to where it was four weeks ago.

US jobless claim applications climb, but still at historically low levels

Weekly U.S. jobless claim applications rose last week but remain at historically low levels despite elevated inflation and other economic headwinds.

The number of Americans filing for unemployment benefits in the week ending May 2 rose by 10,000 to 200,000, the Labor Department reported Thursday. That’s fewer than the 205,000 new applications analysts surveyed by the data firm FactSet were expecting.

The previous week’s new claims figure, which was the fewest since 1969, was revised up by 1,000 to 190,000.

Weekly filings for unemployment benefits are considered a proxy for U.S. layoffs and are close to a real-time indicator of the health of the job market.

US job openings unchanged in March but hiring improved

U.S. job openings were essentially unchanged in March but hiring improved before the full impact of the Iran war hit the economy.

Employers posted 6.87 million jobs in March, compared to 6.92 million in February, the Labor Department reported Tuesday.

The job market has been up and down so far this year after a dismal 2025. And the Iran war, which began Feb. 28, has clouded the outlook for the economy and hiring.

The Job Openings and Labor Turnover Survey showed that layoffs rose in March. But hiring improved: Employers added 5.55 million gross jobs, the most since February 2024. More Americans also quit their jobs — a sign of confidence in their prospects.

Markets head toward records on better-than-expected job market news

U.S. stocks rose toward new highs to end the week on promising news in the labor market and also more strong earnings for major U.S. corporations.

The S&P 500 climbed 0.5% toward an all-time high after a report said U.S. employers added 115,000 more jobs than they cut last month, even though the war with Iran is raising fuel costs and uncertainty for everyone.

While hiring slowed from March’s level, it was nevertheless nearly double what economists expected. And it kept the S&P 500 on track for a sixth straight winning week, which would be its longest such streak since 2024. The U.S. stock market has blasted higher since late March, in part on hopes that the war will not mean a worst-case scenario for the global economy and that the Strait of Hormuz will reopen to allow oil tankers to deliver crude from the Persian Gulf again.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
Read Next Story

Related News

Frustration grows in Venezuela as earthquake death toll reaches 1,430

Israel and Lebanon sign framework agreement with US in ‘first step’ toward peace, Rubio says

Trump-endorsed populist poised to become Colombia’s next president as rival challenges vote