Communist World News

US economic growth fragile, unemployment rates indicate

In North America on April 6, 2012 at 5:36 pm

Washington, USA — Unemployment has fallen, but the number of jobs added in March was lower than initially expected.

Job growth of the US economy

The number of jobs added in March was 120,000, information released by the Labor Department showed. For 18 consecutive months, unemployment rates have fallen, but in March this was lower than expected. In February, 240,000 jobs were added in comparison. This indicates that economic recovery of the US economy is still fragile.

Out of the 8.8 million jobs lost in the recession, only about 3.6 million have been added back. About 12.7 million Americans remain unemployed, with 42.5 percent of them for longer than six months.

Restaurants and bars hired 36,900 people; manufacturers added 37,000 jobs; professional services hired 31,000 people; and health care added another 26,000 jobs. Retail on the other hand lost 33,800 jobs.

The unemployment rate fell to 8.2 percent as the labor force shrank by 164,000 workers, which is attributed to mostly Euro-American women leaving the job market.

Despite the economic growth, 46 million Americans live below the poverty line, a number that was expected to grow in February of this year. Meanwhile 49 million Americans report a lack of food.


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