Highlights GDP declined at a 5.7% annualized rate in the 1st quarter, the third consecutive quarterly decline in real GDP The unemployment rate rose to 8.9% in April, the highest since September 1983 Payroll employment fell by 539,000 in April and 5.7 million over the past 16 months Oil prices have risen to over $60 a barrel recently, up from around $40 at the beginning of the year Interest rates on longer-term U.S. Treasury securities have risen significantly since the beginning of the year