News / USA

US Job Growth Slows, Jobless Rate Dips

US Economy Adds Fewest Jobs in Nine Monthsi
X
April 06, 2013 1:15 AM
U.S. unemployment fell in March to the lowest level in four years, down one tenth of one percent from the previous month, to 7.6 percent. But it's not because more Americans found work. The U.S. Labor Department's monthly jobs report shows that employers hired the fewest number of workers in nine months. Mil Arcega explains why.
Watch related report by Mil Arcega
VOA News
The U.S. says the growth of its labor market slowed markedly last month, even as its unemployment rate edged lower to 7.6 percent.

U.S. employers had been adding about 200,000 jobs a month since late last year. But the government's Bureau of Labor Statistics said Friday that payrolls only increased by 88,000 new jobs in March, the fewest in nine months.

Last month's hiring was down sharply from the robust figure of 268,000 new jobs in February, and a signal that the U.S. recovery from its deep recession five years ago remains uneven.

The Bureau of Labor Statistics reports that only 88,000 new jobs were added in March.The Bureau of Labor Statistics reports that only 88,000 new jobs were added in March.
x
The Bureau of Labor Statistics reports that only 88,000 new jobs were added in March.
The Bureau of Labor Statistics reports that only 88,000 new jobs were added in March.
The jobless rate is the lowest in four years, but the government said the rate only dropped from February's 7.7 percent level because fewer people were looking for work. The government only counts people as unemployed if they are actively looking for work.

The senior economist at one large U.S. bank, Mark Vitner of Wells Fargo, said the weak March job growth calls into question the earlier gains in hiring.

 “It’s clearly disappointing, and on our trading floor you could hear the collective sigh. I mean … the air was almost sucked out of the room. Everybody was hoping for a number of about 100,000 more jobs than this and really it raises questions as to just how valid the earlier pickup was. In each of the last three years, we’ve seen stronger numbers at the start of the year and then as we’ve moved into spring it’s like the economy’s hit an air pocket. And a lot of folks get this sense of dread, that here we go again, that things haven’t gotten all that much better," said Vitner.

Vitner faulted policy-makers in Washington for failing to reach agreement on tax and spending issues, and said this is the primary reason why the U.S. economy has not steadily advanced.

“You don’t have to be overly political to say that it’s run amok. It’s just a disaster. No one has a whole lot of confidence as to what tax policy is going to be in the future, and we’ve got monster-sized deficits that don’t seem to be going away anytime soon," he said.

Another economist, Michael Hicks of Ball State University in Indiana, says it may take a decade or longer to get back to the unemployment levels seen before the financial crisis.

"I think we’re seeing the U.S. economy settling into a pattern of really poor labor market performance," said Hicks. "And despite the good news about the stock market and maybe some other, generally good news about the economy, labor markets seem to be very much stuck in a pattern of very slow growth, adding very few jobs and preserving a very large pool of unemployed."

You May Like

Multimedia Obama, Modi Break Nuclear Deal Deadlock

Impasse over liability issues had been stalling bilateral civilian nuclear cooperation; deal reached at start of US president's three-day visit to India More

WHO's Late Efforts in Tackling Ebola Highlight Need for Reform

Health experts debate measures to reform agency’s response to global public health emergencies in special one-day session on deadly outbreak More

One Tumultuous Year in Power for CAR's President

As sectarian violence raged across Central African Republic, interim President Catherine Samba-Panza has Herculean task: to end civil war and put country back on right track More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Worldwide Photo Workshops Empower Youthi
X
Julie Taboh
January 23, 2015 11:08 PM
Last September, 20 young adults from South Sudan took part in a National Geographic Photo Camp. They are among hundreds of students from around the world who have learned how to use a camera to tell the stories of the people in their communities through the powerful medium of photography. Three camp participants talked about their experiences recently on a visit to Washington. VOA’s Julie Taboh reports.
Video

Video Worldwide Photo Workshops Empower Youth

Last September, 20 young adults from South Sudan took part in a National Geographic Photo Camp. They are among hundreds of students from around the world who have learned how to use a camera to tell the stories of the people in their communities through the powerful medium of photography. Three camp participants talked about their experiences recently on a visit to Washington. VOA’s Julie Taboh reports.
Video

Video US, Japan Offer Lessons as Eurozone Launches Huge Stimulus

The Euro currency has fallen sharply after the European Central Bank announced a bigger-than-expected $67 billion-a-month quantitative easing program Thursday - commonly seen as a form of printing new money. Henry Ridgwell reports for VOA from London on whether the move might rescue the eurozone economy -- and what lessons have been learned from similar programs around the world.
Video

Video Nigerian Elections Pose Concern of Potential Conflict in 'Middle Belt'

Nigeria’s north-central state of Kaduna has long been the site of fighting between Muslims and Christians as well as between people of different ethnic groups. As the February elections approach, community and religious leaders are making plans they hope will keep the streets calm after results are announced. Chris Stein reports from the state capital, Kaduna.
Video

Video As Viewership Drops, Obama Puts His Message on YouTube

Ratings reports show President Obama’s State of the Union address this week drew the lowest number of viewers for this annual speech in 15 years. White House officials anticipated this, and the president has decided to take a non-traditional approach to getting his message out. VOA White House correspondent Luis Ramirez reports.
Video

Video S. Korean Businesses Want to End Trade Restrictions With North

Business leaders in South Korea are calling for President Park Geun-hye to ease trade restrictions with North Korea that were put in place in 2010 after the sinking of a South Korean warship.Pro-business groups argue that expanding trade and investment is not only good for business, it is also good for long-term regional peace and security. VOA’s Brian Padden reports.
Video

Video US Marching Bands Grow Into a Show of Their Own

The 2014 Super Bowl halftime show was the most-watched in history - attracting an estimated 115 million viewers. That event featured pop star Bruno Mars. But the halftime show tradition started with marching bands, which still dominate the entertainment at U.S. high school and college American football games. But as Enming Liu reports in this story narrated by Adrianna Zhang, marching bands have grown into a show of their own.
Video

Video Secular, Religious Kurds Face Off in Southeast Turkey

Turkey’s predominantly Kurdish southeast has been rocked by violence between religious and secular Kurds. Dorian Jones reports on the reasons behind the stand-off from the region's main city of Diyarbakir, which suffered the bloodiest fighting.
Video

Video Kenya: Misuse of Antibiotics Leading to Resistance by Immune System

In Kenya, the rise of drug resistant bacteria could reverse the gains made by medical science over diseases that were once treatable. Kenyans could be at risk of fatalities as a result if the power in antibiotics is not preserved. Lenny Ruvaga has more on the story from Nairobi.
Video

Video Solar-Powered Plane Getting Ready to Circumnavigate Globe

Pilots of the solar plane that already set records flying without a drop of fuel are close to making their first attempt to fly the craft around the globe. They plan to do it in 25 flying days over a five month period. VOA’s George Putic reports.
Video

Video How Experts Decide Ethiopia Has the Best Coffee

Ethiopia’s coffee has been ranked as the best in the world by an international group of coffee connoisseurs. Not surprisingly, coffee is a top export for the country. But at home it is a source of pride. Marthe van der Wolf in Addis Ababa decided to find out what makes the bean and brew so special and how experts make their determinations.
Video

Video Yazidi Refugees at Center of Political Fight Between Turkey, Kurds

The treatment of thousands of Yazidis refugees who fled to Turkey to escape attacks by Islamic State militants has become the center of a dispute between the Turkish government and the country's pro-Kurdish movement. VOA's Dorian Jones reports.
Video

Video World’s Richest 1% Forecast to Own More Than Half of Global Wealth

The combined wealth of the world's richest 1 percent will overtake that of the remaining 99 percent at some point in 2016, according to the anti-poverty charity Oxfam. Campaigners are demanding that policymakers take action to address the widening gap between the ‘haves’ and the ‘have nots’, as Henry Ridgwell reports for VOA from London.

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

All About America

AppleAndroid