BALDWIN: Are you looking for a job? Because I'm happy to tell you here, hiring is happening. The latest jobs report released just this morning shows 288,000 jobs were added last month, so that translates to an unemployment rate that is down now to 6.3 percent. Folks, that's the lowest level we have seen now in more than five years. But -- there is a bit of a but -- not all good news. Our business correspondent Alison Kosik is live at the New York Stock Exchange and walk me through the numbers.</s>ALISON KOSIK, CNN BUSINESS CORRESPONDENT: So the headlines that you mentioned, they are great in this April jobs report as the economy continues to thaw out from the polar vortex, U.S. employers adding 288,000 jobs, the jobless rate tumbling to 6.3 percent. Here's the thing with that. The unemployment rate falling was for the wrong reasons. Fewer people were out looking for jobs last month, and almost 1 million people completely dropped out of the labor force because they got discouraged about looking for a job. Here's the other harsh reality in this report. What workers are being paid, those wages, are stagnating. Average hourly wages from March to April, Brooke, they did not budge. And if the economy is going to grow and grow strongly, workers need to make more money to buy stuff, more business services, more houses, more cars. And that's why you're seeing the markets react the way they are. Brooke?</s>BALDWIN: Down 45 points, end of the trading day, end of the week. Alison Kosik, thank you so much. And thank you for being with me. I'm Brooke Baldwin. Have a wonderful weekend. "THE LEAD" with Jake Tapper starts now.
Unemployment Rate Drops to 6.3 Percent