Young at Heart or Labor Force, Unemployment Drop

        13:30 EDT - RBS says of the net 733K people who were no longer counted as unemployed last month, 434K were ages 16-24. "Underlying data suggest most of these exits were voluntary" as 2/3 of April's increase in the age group for those not in the labor force "was accounted for by individuals who said they did not want a job. It is not clear what drove this unusually large increase in youth exits from the labor force...and we look for at least a partial reversal in May. Indeed, our early forecast for May's unemployment rate is for a rise to 6.5%" from last month's 6.3%. (kevin.kingsbury@dowjones.com; @kevinkingsbury)
        (END) Dow Jones Newswires

        May 02, 2014 13:31 ET (17:31 GMT)