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General Motors posted $2.54 billion in second-quarter net income, a 52% increase over a year ago DETROIT -- Despite taking on a huge chunk of an expensive electric vehicle recall, General Motors posted $2.54 billion in second-quarter net income, a 52% increase over a year ago. Continued strong vehicle sales and pricing, as well as cost cuts, led to the better-than-expected quarter. The Detroit automaker on Tuesday raised its financial guidance for the full year with one qualification: that it can negotiate union labor contracts without a strike. Chief Financial Officer Paul Jacobson told reporters that customers paid about $1,600 more per vehicle last quarter than from January through March — with an average U.S. sale price of $52,000. Discounts and inventory remained flat as the company sold 19% more vehicles than a year ago in the U.S., its most profitable market. GM is being cautious on prices and not counting on them staying high all year, Jacobson said. “We’re not assuming majo...

Some industries posted blockbuster expansions in April while others lagged far behind. A better-than-expected jobs report on Friday defied interest rate hikes that aim to slash inflation by cooling the economy. Instead, the U.S. added 253,000 jobs in April, marking a slight decline from an average of 290,000 over the previous six months. The unemployment rate fell to 3.4%, matching a 54-year low, government data showed. The job gains, however, did not accrue evenly across sectors. Some industries posted blockbuster expansions while others lagged far behind. "There are good signs and there's broad growth," William Spriggs, chief economist for the labor federation AFL-CIO, told ABC News. "But many of the sectors didn't do very much." MORE: Is PacWest Bank on the brink of collapse? Experts weigh in after shares plummet 50% Here's what to know about which industries are seeing jobs grow the fastest and why: Business and professional services: 43,000 jobs...