The Associated Press May 4, 2012, 09:36AM ET

US stocks open lower after weak April jobs report

U.S. stocks are opening lower after the government reported that hiring slowed in April, confirming a slew of data during the month that showed the economy was weakening.

The Dow Jones industrial average fell 55 points to 13,150 shortly after the opening bell Friday.

The Standard & Poor's 500 index slipped 7 points to 1,385, while the Nasdaq index gave up 27 points to 2,997.

The Labor Department reported that U.S. employers added just 115,000 jobs in April. That was below March's revised number and well off the pace from earlier this year.

The unemployment rate fell to 8.1 percent, a three-year-low, but only because more people gave up looking for work. The government only counts people as unemployed if they are actively looking for work.


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