a strong denial from the white house. they call russia s latest claims ridiculous. this after the kremlin suggested the u.s. directed ukraine to carry out that alleged drone attack. brand-new jobs numbers just in to cnn. what they say about the state of the u.s. economy now just after the federal reserve announced another interest rate hike. the third this year. captured after a nearly eight-hour search in atlanta. police arrested a man accused of opening fire inside a medical center. at least one person has died. ahead, what we re learning about the victims and a potential motive behind that shooting. these major stories and many more coming in right here to cnn news central. ridiculous. that s what the white house is calling russia s baseless accusation this morning that the u.s. directed ukraine to carry out that alleged drone attack on the kremlin. moscow claims that this was an attempt to assassinate russian president vladimir putin. ukraine has strongly denied a
The economy exceeded expectations in April and added 253,000 jobs, a sign that the labor market is holding up despite the Federal Reserve s rate-hiking campaign and turmoil in the banking sector.
be softening. these numbers coming one day ahead of the release of the key april unemployment report. this morning, we re keeping an eye on l.a. the l.a.-based bank pac west, yet another bank that could be in danger. shares fell more than 50% in after-hours trading on reports that it was exploring strategic options. this coming days after the collapse of first republic bank, which was the second largest bank failure in united states history. here to join me now to break this down is christine romans. let s start with the jobs numbers. sure. what does that indicate is happening? it s essentially a proxy for layoffs. it shows you that layoffs are starting to pick up a little bit. this is after a year of fed rate hikes where they ve been trying to cool down the labor market. 242,000 is that number. for context, before covid, on average it was like 311,000. rising, but still not the kind of layoffs we were seeing or the
The April jobs report shows a labor market that continues toweaken. These employment figures also demonstrate that this is thewrong time for the Administration's Detroit bailout strategy.