Jorge Bergoglio, the 76-year-old archbishop of Buenos Aires, Argentina, has been elected as pope. He is the first Latin American to lead the Catholic Church. Bergoglio, who has taken the name Francis I, is also the first Jesuit priest to become pope.
Tuesday evening, a plume of black smoke rose out of the Sistine Chapel at the Vatican, signifying that the first round of balloting to elect a new pope had passed without any nominee receiving the necessary two-thirds majority.
The labor market—and the economy overall—is improving, albeit gradually, with employers adding 236,000 jobs in February. That gain brought the unemployment rate down a few ticks from 7.9 percent to 7.7, its lowest point in four years.
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