News / USA

    US Labor Market Expands as Jobless Rate Dips

    U.S. job seekers adjust their paperwork as they wait in line to attend a job fair in New York, February  28, 2013.
    U.S. job seekers adjust their paperwork as they wait in line to attend a job fair in New York, February 28, 2013.
    VOA News

    The U.S. labor market robustly expanded last month, adding another 236,000 jobs, while the country's jobless rate dropped to 7.7 percent, a four-year low.
     

    The government's unexpected, upbeat report Friday signaled that the sluggish American economy, the world's largest, may be starting to advance more rapidly.


    The senior economist at a large U.S. bank, Mark Vitner of Wells Fargo, said the favorable numbers may presage a substantial improvement.
     

    The U.S. labor market robustly expanded last month, adding another 236,000 jobs, while the country's jobless rate dropped to 7.7 percent, a four-year low.

    Watch related video by Mil Arcega for VOA

    US Economy Adds 263K Jobs, Unemployment Rate Falls to 7.7%i
    X
    March 09, 2013 12:03 AM
    U.S. hiring was stronger than expected last month. The Labor Department says American companies added 236 thousand jobs in February and the unemployment rate fell from 7.9 to 7.7 percent. That's the lowest level since December 2008 and suggests the U.S. recovery is gaining momentum. But some say the recovery may be short lived. Mil Arcega has more for VOA.

    The government's unexpected, upbeat report Friday signaled that the sluggish American economy, the world's largest, may be starting to advance more rapidly.

    The additional jobs last month came on top of an average of 195,000 that were added in each of the three previous months.


    "I think there’s been a lot more improvement in the economy than people recognize and the numbers are beginning to show it. It’s really beginning to look like a real recovery," Vitner said.
     

    The additional jobs last month came on top of an average of 195,000 that were added in each of the three previous months.


    U.S. economists had predicted that the jobless rate would remain stubbornly unchanged at the January level of 7.9 percent.


    The February rate is still well above the decades-long 5 percent level that has been common in the U.S. But the 7.7 percent figure is the lowest since the 7.3 percent figure recorded in December 2008 - in the initial stages of the country's deepest recession since the Great Depression of the 1930s.


    U.S. economists had predicted that the jobless rate would remain stubbornly unchanged at the January level of 7.9 percent.

    The February rate is still well above the decades-long 5 percent level that has been common in the U.S. But the 7.7 percent figure is the lowest since December 2008 - in the initial stages of the country's deepest recession since the Great Depression of the 1930s.

    The Bureau of Labor Statistics said more workers were hired last month in professional and business services, and by construction and health care companies.



    The Bureau of Labor Statistics said more workers were hired last month in professional and business services, and by construction and health care companies.


    Vitner said the jobless rate may dip further, but then increase again as more unemployed workers begin new job searches. In the U.S., unemployed workers who have quit looking for jobs are not counted among the jobless until they begin looking again for work.


    "I do think the jobless rate will fall further. I don’t think it will fall every month. I think it might get to 7 and a half percent in the next couple of months, but then I think it’s possible the unemployment rate will actually increase because the jobs that we’re creating now, a larger portion of the jobs that we’re creating, are relatively high-paying jobs and those high-paying jobs are beginning to draw people back into the labor market," Vitner said.


    The U.S. has struggled to fully recover from the recession. But the Dow Jones Industrial Average of key stocks recorded all-time highs this week. Corporations are recording large profits, even as they have been slow to hire more workers.


    In adding to their payrolls in February, employers ignored the contentious rancor in Washington last month between President Barack Obama and his Republican opponents in Congress over whether to allow $85 billion in mandated government spending cuts to take effect.


    The White House and Congress were unable to reach agreement and the budget trims took hold a week ago, although the effect of the cuts on the economy remains uncertain. Some government workers are facing unpaid furloughs from their jobs in the coming months, while some government services have been curtailed.

    You May Like

    Hope Remains for Rio Olympic Games, Despite Woes

    Facing a host of problems, Rio prepares for holding the games but experts say some risks, like Zika, may not be as grave as initially thought

    IS Use of Social Media to Recruit, Radicalize Still a Top Threat to US

    Despite military gains against IS in Iraq and Syria, their internet propaganda still commands an audience; US officials see 'the most complex challenge that the federal government and industry face'

    ‘Time Is Now’ to Save Africa’s Animals From Poachers, Activist Says

    During Zimbabwe visit, African Wildlife Foundation President Kaddu Sebunya says poaching hurts Africa as slave trade once did

    This forum has been closed.
    Comment Sorting
    Comments
         
    by: NVO from: USA
    March 08, 2013 1:42 PM
    Let's get something straight....RIGHT NOW!! Its all LIES, carefully fabricated by the Regime to mislead the people. The real agenda of the Regime is for ALL Americans to become poor, so they will be reliant on the Regime. They will continue to devaluate the dollar, calling it "inflation", and the EVIL ROCKEFELLER family who owns the FEDERAL RESERVE BANK, will drag us into another war, so they can make a huge profit off the INTEREST of the money borrowed to go to war. Hey, ROCKEFELLERS, can you explain to the people why you call a PRIVATELY OWNED BANK, "The Federal Reserve". Can you explain that?! EXPOSE THE EVIL ROCKEFELLER FAMILY!!!

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Ivorian Chocolate Makers Promote Locally-made Chocolatei
    X
    July 29, 2016 4:02 PM
    Ivory Coast is the world's top producer of cocoa but hardly any of it is processed into chocolate there. Instead, the cocoa is sent abroad to chocolate makers in Europe and elsewhere. This is a general problem throughout Africa – massive exports of raw materials but few finished goods. As Emilie Iob reports from Abidjan, several Ivorian entrepreneurs are working to change that formula - 100 percent Ivorian chocolate bar at a time.
    Video

    Video Ivorian Chocolate Makers Promote Locally-made Chocolate

    Ivory Coast is the world's top producer of cocoa but hardly any of it is processed into chocolate there. Instead, the cocoa is sent abroad to chocolate makers in Europe and elsewhere. This is a general problem throughout Africa – massive exports of raw materials but few finished goods. As Emilie Iob reports from Abidjan, several Ivorian entrepreneurs are working to change that formula - 100 percent Ivorian chocolate bar at a time.
    Video

    Video Tesla Opens Battery-Producing Gigafactory

    Two years after starting to produce electric cars, U.S. car maker Tesla Motors has opened the first part of its huge battery manufacturing plant, which will eventually cover more than a square kilometer. Situated close to Reno, Nevada, the so-called Gigafactory will eventually produce more lithium-ion batteries than were made worldwide in 2013. VOA's George Putic reports.
    Video

    Video Polio-affected Afghan Student Fulfilling Her Dreams in America

    Afghanistan is one of only two countries in the world where children still get infected by polio. The other is Pakistan. Mahbooba Akhtarzada who is from Afghanistan, was disabled by polio, but has managed to overcome the obstacles caused by this crippling disease. VOA's Zheela Nasari caught up with Akhtarzada and brings us this report narrated by Bronwyn Benito.
    Video

    Video Hillary Clinton Promises to Build a 'Better Tomorrow'

    Democratic presidential candidate Hillary Clinton urged voters Thursday not to give in to the politics of fear. She vowed to unite the country and move it forward if elected in November. Clinton formally accepted the Democratic Party's nomination at its national convention in Philadelphia. VOA national correspondent Jim Malone has more.
    Video

    Video Trump Tones Down Praise for Russia

    Republican presidential candidate Donald Trump is toning down his compliments for Russia and Vladimir Putin as such rhetoric got him in trouble recently. After calling on Russia to find 30.000 missing emails from rival Hillary Clinton, Trump told reporters he doesn't know Putin and never called him a great leader, just one who's better than President Barack Obama. Putin has welcomed Trump's overtures, but, as Zlatica Hoke reports, ordinary Russians say they are not putting much faith in Trump.
    Video

    Video Uganda Unveils its First Solar-powered Bus

    A solar-powered bus described by its Ugandan makers as the first in Africa has made its public debut. Kiira Motors' electric bus, Kayoola, displayed recently at a stadium in Uganda's capital. From Kampala, Maurice Magorane filed this report narrated by Salem Solomon.
    Video

    Video Silicon Valley: More Than A Place, It's a Culture

    Silicon Valley is a technology powerhouse and a place that companies such as Google, Facebook and Apple call home. It is a region in northern California that stretches from San Francisco to San Jose. But, more than that, it's known for its startup culture. VOA's Elizabeth Lee went inside one company to find out what it's like to work in a startup.
    Video

    Video Immigrant Delegate Marvels at Democratic Process

    It’s been a bitter and divisive election season – but first time Indian-American delegate Dr. Shashi Gupta headed to the Democratic National Convention with a sense of hope. VOA’s Katherine Gypson followed this immigrant with the love of U.S. politics all the way to Philadelphia.
    Video

    Video Dutch Entrepreneurs Turn Rainwater Into Beer

    June has been recorded as one of the wettest months in more than a century in many parts of Europe. To a group of entrepreneurs in Amsterdam the rain came as a blessing, as they used the extra water to brew beer. Serginho Roosblad has more to the story.
    Video

    Video Commerce Thrives on US-Mexico Border

    At the Democratic Convention in Philadelphia this week, the party’s presumptive presidential nominee, Hillary Clinton, is expected to attack proposals made by her opponent, Republican presidential nominee Donald Trump, to build a wall along the U.S.-Mexico border. Last Friday, President Barack Obama hosted his Mexican counterpart, President Enrique Peña Nieto, to underscore the good relations between the two countries. VOA’s Greg Flakus reports from Tucson.
    Video

    Video Film Helps Save Ethiopian Children Thought to be Cursed

    'Omo Child' looks at effort of African man to stop killings of ‘mingi’ children
    Video

    Video London’s Financial Crown at Risk as Rivals Eye Brexit Opportunities

    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.

    Special Report

    Adrift The Invisible African Diaspora