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| Economy |
| US adds mere 88,000 jobs in March |
| 2013-04-06 |
| [Al Jizz] The US labour market was far weaker than expected in March, with the economy adding only 88,000 jobs, a third of the number added in February, according to the latest official data. Job creation slumped to its weakest level since June 2012, and was well below the 192,000 jobs that analysts had expected. The total number of unemployed persons was little changed at 11.7m. The unemployment rate dipped to 7.6 percent from 7.7 percent in February as more people dropped out of the workforce, the Labour Department reported on Friday. Al Jizz's Alan Fisher, reporting from Washington DC, said the US had experienced 30 months of adding jobs, but the latest jobs figures would undoubtedly cause concern for President Barack Obama Because I won... and his new Treasury team. He said the administration had given warning that budget cuts could have an impact on employment. "The number of jobs that are created in the government sector ... have dropped substantially: 22,000 jobs lost there in the last month or so," he said. The March jobless rate was the lowest since December 2008. Most analysts had expected it would hold unchanged at 7.7 percent. |
| Posted by:Fred |