Business Briefs – May 7, 2017

Jobs Report Points to a Healthy Drop in Underemployment

WASHINGTON (AP) – A burst of hiring in April provided reassurance for the U.S. economy after a slow start to the year: Job growth returned to a healthy pace. Unemployment hit a decade low. And the number of part-time workers who want full-time jobs reached its lowest point in nine years. Employers last month added 211,000 jobs, more than double the weak showing in March, the Labor Department said on Friday. And the unemployment rate dipped to 4.4 percent from 4.5 percent in March.

Average Gas Price Drops 5 Cents, As Crude Cost Falls

CAMARILLO, Calif. (AP) – The average price of a gallon of regular-grade gasoline dropped 5 cents nationally over the past two weeks, to $2.41.

Industry analyst Trilby Lundberg of the Lundberg Survey said on Sunday that the drop reflected lower costs for crude oil, as well as abundant gas supplies.

She says the national average is 14 cents a gallon above the price a year ago.

Gas in San Francisco was the highest in the contiguous United States at an average of $3.02 a gallon. The lowest was in Tulsa, Oklahoma, at $2.02 a gallon.

The U.S. average diesel price is $2.57, down 2 cents from two weeks ago.

U.S. Consumer Borrowing Rises Solid $16.4 Billion in March

WASHINGTON (AP) – Americans stepped up their borrowing in March, taking out more loans for cars and school. The Federal Reserve reported on Friday that total consumer borrowing rose by $16.4 billion, or 5.2 percent, in March, up from a $13.7 billion increase in February and the biggest uptick since November’s $25.5 billion jump.

U.S. Probes Complaints of Brake Problems on Nissan Murano SUVs

DETROIT (AP) – The U.S. government’s highway safety agency is investigating complaints that the brakes can malfunction on some Nissan SUVs. The probe covers about 110,000 Muranos from the 2009 model year. The National Highway Traffic Safety Administration says in documents posted on Friday that 58 drivers complained about the problem. One reported a crash with three injuries.

Thousands of People Fill Arena To Hear From Warren Buffett

OMAHA, Neb. (AP) – Listening to Warren Buffett never gets old to the thousands of Berkshire Hathaway shareholders who filled an arena over the weekend to listen to the investor at the company’s annual meeting.

More than 30,000 people came to Omaha to hear Buffett and Berkshire Vice Chairman Charlie Munger talk. The 86-year-old CEO and his 93-year-old partner have been leading the conglomerate for more than five decades.