U.S. Budget Surplus up to Seven Year High

The U.S. budget surplus in April rose to the highest level since 2008 on record revenue as hiring improved during a month when Americans file tax returns.

Revenue exceeded spending by $156.7 billion last month, compared with a $106.9 billion surplus a year earlier, the Treasury Department said Tuesday in Washington. The median estimate in a Bloomberg survey of 24 economists was for a $155 billion surplus.

Hiring bounced back in April as the jobless rate fell to 5.4 percent, the lowest since May 2008, from 5.5 percent month earlier. That’s swelling the Treasury’s coffers and improving the nation’s fiscal situation as spending gains 6.4 percent so far this year.