Wage gains remained subdued in April, although 234,000 jobs were added outside the farm sector, the US Labor Department reported. The nation's unemployment rate crept up to 4.3 percent from a 29-year low of 4.2 percent in March. Financial markets greeted the announcement with relief, as there had been fears it would show even stronger job gains that would add to pressure on the Federal Reserve to cool off the economy by pushing up interest rates. (Related stories, page 11.)
Trans World Airlines braced for a potential June strike after a union representing 16,000 of its flight attendants, ground workers, and other employees declined to enter binding arbitration in contract talks. The arbitration offer was made by the National Mediation Board to Lodge 1650 of the International Association of Machinists and Aerospace Workers, reports from Chicago said. Lodge president Kevin Nelson said the board had ordered a 30-day cooling-off period. TWA is the eighth-largest US carrier.