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Business April jobs report, at 165,000 new jobs, exceeds expectations; Dow surges (+video)

April jobs report shows a net 165,000 new jobs, as the unemployment rate drops to its lowest level since 2008. Federal government's workforce also drops to its lowest level since December 2008.

By Ron SchererStaff writer / May 3, 2013

Mike Groll/AP/File

The economy turned out more jobs than expected in April and the unemployment rate fell to 7.5 percent, the lowest rate since December of 2008. Since January, the unemployment rate is down 0.4 of a percentage point.