This article talks about the recent 88,000 jobs which were added in the previous month. This has been the lowest increase in nine months. The predicted number was close to 200,000. This weak additions of jobs have raised doubts over the recovery of the US economy.
The retail sector lost about 24,000 jobs and about 12,000 jobs have been lost by the US Postal Service. While other sectors of the economy performed better with about 51,000 jobs of business and professional jobs being added. About 23,000 jobs added to the healthcare positions. It is believed by many economists that the recent federal spending cuts have had an impact on the confidence level of companies. The current unemployment levels of male and females are quite high , with 6.9% being for male and 7% for females.
If the US economy has to keep on adding 90,000 jobs each moth to keep up with the growing population , and also to make sure that economy is on a track of recovery.
http://www.bbc.co.uk/news/business-22042657
The retail sector lost about 24,000 jobs and about 12,000 jobs have been lost by the US Postal Service. While other sectors of the economy performed better with about 51,000 jobs of business and professional jobs being added. About 23,000 jobs added to the healthcare positions. It is believed by many economists that the recent federal spending cuts have had an impact on the confidence level of companies. The current unemployment levels of male and females are quite high , with 6.9% being for male and 7% for females.
If the US economy has to keep on adding 90,000 jobs each moth to keep up with the growing population , and also to make sure that economy is on a track of recovery.
http://www.bbc.co.uk/news/business-22042657
The slow growth in jobs is not super surprising with the fact their is no real shopping holidays and less less things being delivered this time of year compared to holiday seasons or even the middle of summer when everyone is done with school and working
ReplyDeleteAlong with the slow growth in jobs, the labor force participation rate is also decreasing to 30 year lows. These are two signs that the economy might not be in as good of shape as we thought.
ReplyDeleteIf adding a predicted value of 200,000 jobs a month is the track we should be in, that does look a little difficult given that this past month we only had 88,000. But given this time of year, it could be justified. We still always want more jobs for people, and a lower unemployment rate, March shows the opposite for both. We can only hope that as summer approaches, there are more jobs openings for summer jobs and graduates, as well as the unemployed.
ReplyDeleteIt is clear that more jobs need to be created, but what about the jobs that people currently have? Are such large fluctuations in different sectors a common occurrence, or are we really in bad shape?
ReplyDelete