CBS Evening News 05.05.23

We’ll get to those details of those major drug bus targeting fentanyl in just a moment. The DEA revealing today it has arrested more than three thousand people. But we want to begin tonight with news about economy. Job growth in the US last month shattered expectations. The Labor Department says employers added two hundred fifty-three thousand jobs in April, while the unemployment rate sank to 3.4%, that’s a fifty-four-year-low. The report shows that the economy remains strong despite the Federal Reserve’s aggressive actions on interest rate hikes and worries about the debt limit showdown here in Washington.

The labor market continues to defy expectations. Job growth in April blew away estimates and led to the lowest unemployment rate since the 1960s. I think we’re making real progress. Hourly wages also were up higher than expected. April saw the largest monthly gain in more than a year. Those higher wages are helping fill jobs. Starting pay for lifeguards in Minneapolis went from $11 to $19 an hour. Adding those fears? The potential failure to raise the country’s borrowing limit by June 1st, which could lead to economic calamity. Today, President B attacks Republicans for trying to extract billions of dollars in cuts in order to raise the limit. But Republicans argue there is no better time to talk about cutting spending when you have got to raise the debt limit. The president is set to meet with top congressional leaders here at the White House next Tuesday to try to hammer out a deal with just under four weeks until, the Treasury Secretary says, the country will be unable to pay its bills.

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