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The United States economy created 165,000 jobs in April, slightly more than forecasters had estimated, pushing the unemployment rate down modestly to 7.5 percent, the government reported Friday.
After starting off strong in 2013, the economy has been showing signs of weakness more recently, prompting experts to warn of a third consecutive spring swoon.
Aprils rate of job creation compares with an average of 168,000 jobs added per month in the first quarter this year and 209,000 in the fourth quarter of 2012. Before Fridays announcement, experts on Wall Street had estimated that 140,000 jobs were added.
Economists have been warning that the economy and job creation will slow in the second-quarter, largely as a result of fiscal tightening in Washington. Payroll taxes increased in January, and across-the-board spending cuts mandated by Congress went into effect in March, and their impact is expected to be felt more broadly in the months ahead.
http://www.nytimes.com/2013/05/04/business/economy/us-adds-165000-jobs-in-april.html?hp&_r=0&pagewanted=print
Gman
(24,780 posts)Johnny2X2X
(18,973 posts)It's getting better out there, slowly but surely. The biggest # is that we've avaeraged 208,000 jobs a month for the last 6 months, that's over 1.2 million jobs and the type of sustained job growth that we need to move forward with the economy.