Drop in Jobless Rate Won't Alter Fed Course

        15:39 EDT - US unemployment may have fallen to 6.3% in April from 6.7% in March, but that doesn't mean the Fed is any closer to raising interest rates, argued IHS Global Insight economists. That's in part because other measures of improvement, such as labor-force participation, remain very weak. "The Fed is unlikely to respond to the sharp drop in the unemployment rate in April by accelerating the taper or raising interest rates sooner than thought. The totality of labor market indicators suggests there is still ample slack and further room for improvement," IHS says. (pedro.dacosta@wsj.com)
        (END) Dow Jones Newswires

        May 02, 2014 15:39 ET (19:39 GMT)