Jobs Data Ease Fears of Sharp Slowdown in U.S. Economy
By NELSON D. SCHWARTZ, NYT
The United States economy created an estimated 165,000 jobs in April, averting fears of a sharp slowdown and pushing the unemployment rate to its lowest level since the end of 2008.
The latest jobs figures from the Department of Labor paint a brighter picture of the overall economy than other recent data, which had been weaker and prompted economists to warn of a spring swoon for the third year in row. Those worries had been heightened after the March jobs report, which initially showed the economy to have added just 88,000 jobs, much fewer than had been expected.
On Friday, however, the government sharply revised upward its estimates for job creation in February and March, concluding that the economy actually generated 332,000 jobs in February and 138,000 in March. The unemployment rate, which is based on a separate survey, fell by 0.1 percentage point to 7.5 percent, from 7.6 percent in March.
(More here.)
The United States economy created an estimated 165,000 jobs in April, averting fears of a sharp slowdown and pushing the unemployment rate to its lowest level since the end of 2008.
The latest jobs figures from the Department of Labor paint a brighter picture of the overall economy than other recent data, which had been weaker and prompted economists to warn of a spring swoon for the third year in row. Those worries had been heightened after the March jobs report, which initially showed the economy to have added just 88,000 jobs, much fewer than had been expected.
On Friday, however, the government sharply revised upward its estimates for job creation in February and March, concluding that the economy actually generated 332,000 jobs in February and 138,000 in March. The unemployment rate, which is based on a separate survey, fell by 0.1 percentage point to 7.5 percent, from 7.6 percent in March.
(More here.)
Powered by Blogger
0 Comments:
Post a Comment
<< Home