English | دری

US economy creates job less than expected

in International Business

US economy creates job less than expected

The US economy creates 96,000 jobs, lower than 41,000 figure expected in July.

The employment increased in food services and drinking places, professional and technical services and healthcare during August.

Unemployment rate dropped to 8.1% compared with 8.3% in July, but only because more people gave up looking for work.

The percentage of Americans who either have a job or who are looking for one fell to 63.5%, the lowest participation rate since 1981.

The weak job market certainly puts a pressure on President Barack Obama in his re-election campaign, given than Mitt Romney’s central focus of the national debate is US unemployment.

The disappointing job figure is also a headache for Federal Reserve, who is under pressure to do something about it.

The Fed’s chief, Ben Bernanke, hinted at further action, perhaps a new quantitative easing measure, to boost the economy.

Figures released last week showed that the US economy grew at an annualised pace of 1.7% in the second quarter of the year.


Tags assigned to this article:
US job market

Related Articles

Apple seeks an additional USD 707m from Samsung

Yes! You read that right. Apple is seeking USD 707m more in damages from Samsung after winning the battle in

Lagarde says China must reform economy and yuan

International Monetary Fund (IMF) head Christine Lagarde has said that China must stop its economy being too dependent on exports

US unemployment hits 4-year low

US unemployment rate in November was down to a four-year low of 7.7%, after the US added 146,000 jobs. The

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.