A round-up of recent public finance stories from the US & Canada you might have missed.

Bank of Canada says labour market improvements may be overstated

A study by Canada’s central bank has found that official unemployment rates in Canada and the US might have exaggerated improvements in the labour market since the recession. (Wall Street Journal)

US budget surplus hit $106.9bn in April

The United States posted a $107bn budget surplus in April, according to Treasury Department figures released on Monday, suggesting the federal government was on track to slash its annual deficit. (Reuters via CNBC)

Obama urges Congress to spend money on US infrastructure

With New York's aging Tappan Zee Bridge looming behind him, President Barack Obama challenged congressional Republicans to spend more money on the nation's crumbling roads, see-through bridges and outdated ports or face losing businesses to other countries. (The Associated Press via ABC News)

Canadian dollar falls as economy loses 29,000 jobs: here's what the economists say

Canada’s job market continued its volatile trend in April, shedding about 29,000 positions when most analysts had expected a moderate gain. The decline sparked a sharp drop in the value of the Canadian dollar. (Financial Post)

Judge halts Illinois pension reform law due to lawsuits

An Illinois judge on Wednesday suspended the state's new pension reform law until lawsuits brought by unions, retirees and others challenging the constitutionality of the overhaul of the retirement system are resolved. (Reuters)