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

Video Migrants Caught in No-Man's Land In French Port

The deaths of hundreds of migrants in the Mediterranean this week has only recast the spotlight on the perils of reaching 'Fortress Europe' More

Video Westgate Mall Attack Survivors Confront Painful Memories

On anniversary of terror attack, survivors discuss how they have coped with trauma they experienced that day More

New Hints That Dark Matter Exists

New evidence from International Space Station hints at existence of dark matter and dark energy More

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.
Migrants Caught in No-Man's Land Called Calaisi
X
Lisa Bryant
September 19, 2014 5:04 PM
The deaths of hundreds of migrants in the Mediterranean this week has only recast the spotlight on the perils of reaching Europe. And for those forunate enough to reach a place like Calais, France, only find that their problems aren't over. Lisa Bryant has the story.
Video

Video Migrants Caught in No-Man's Land Called Calais

The deaths of hundreds of migrants in the Mediterranean this week has only recast the spotlight on the perils of reaching Europe. And for those forunate enough to reach a place like Calais, France, only find that their problems aren't over. Lisa Bryant has the story.
Video

Video Westgate Siege Anniversary Brings Back Painful Memories

One year after it happened, the survivors of the terror attack on Nairobi's Westgate Shopping Mall still cannot shake the images of that tragic incident. For VOA, Mohammed Yusuf tells the story of victims still waiting for the answer to the question 'how could this happen?'
Video

Video Militant Assault in Syria Displaces Thousands of Kurds

A major assault by Islamic State militants on Kurds in Syria has sent a wave of new refugees to the Turkish border, where they were stopped by Turkish border security. Turkey is already hosting about 700,000 Syrian refugees who fled the civil war between the government and the opposition. But the government in Ankara has a history of strained relations with Turkey's Kurdish minority. Zlatica Hoke reports Turkey is asking for international help.
Video

Video CERN Accelerator Back in Business

The long upgrade of the Large Hadron Collider is over. The scientific instrument responsible for the discovery of the Higgs boson -- the so-called "God particle" -- is being brought up to speed in time for this month's 60th anniversary of the European Organization for Nuclear Research, known by its French acronym CERN. Physicists hope the accelerator will help them uncover more secrets about the origins of the universe. VOA’s George Putic reports.
Video

Video Whaling Summit Votes to Uphold Ban on Japan Whale Hunt

The International Whaling Commission, meeting in Slovenia, has voted to uphold a court ruling banning Japan from hunting whales in the Antarctic Ocean. Conservationists hailed the ruling as a victory, but Tokyo says it will submit revised plans for a whale hunt in 2015. Henry Ridgwell reports from London.
Video

Video Russian Economy Reeling After New Western Sanctions

A new wave of Western sanctions is hitting Russia’s economy hard. State-owned energy firms continue to bleed profits and Russia’s national currency plunged to a new low this week after the U.S. and the European Union announced new sanctions to punish Russia's aggressive stance in eastern Ukraine. But as Mil Arcega reports, the sanctions could also prove costly for European and American companies.
Video

Video Belgian Researchers Discover Way to Block Cancer Metastasis

Cancer remains one of the deadliest diseases, despite many new methods to combat it. Modern medicine has treatments to prevent the growth of primary tumor cells. But most cancer deaths are caused by metastasis, the stage when primary tumor cells change and move to other parts of the body. A team of Belgian scientists says it has found a way to prevent that process. Zlatica Hoke has more.
Video

Video Mogadishu's Flood of Foreign Workers Leaves Somalis Out of Work

Unemployment and conflict has forced many young Somalians out of the country in search of a better life. But a newfound stability in the once-lawless nation has created hope — and jobs — which, some say, are too often being filled by foreigners. Abdulaziz Billow reports from Mogadishu.
Video

Video A Dinosaur Fit for Land and Water

Residents and tourists in Washington D.C. can now examine a life-size replica of an unusual dinosaur that lived almost a hundred million years ago in northern Africa. Scientists say studying the behemoth named Spinosaurus helps them better understand how some prehistoric animals adapted to life on land and in water. The Spinosaurus replica is on display at the National Geographic museum. VOA’s George Putic has more.
Video

Video Iraqi Kurdistan Church Helps Christian Children Cope find shelter in churches in the Kurdish capital, Irbil

In the past six weeks, tens of thousands of Iraqi Christians have been forced to flee their homes by Islamic State militants and find shelter in churches in the Kurdish capital, Irbil. Despite U.S. airstrikes in the region, the prospect of people returning home is still very low and concerns are starting to grow over the impact this is having on the displaced youth. Sebastian Meyer reports from Irbil on how one church is coping.
Video

Video NASA Picks Boeing, SpaceX to Carry Astronauts Into Space

The U.S. space agency, NASA, has chosen Boeing and SpaceX companies to build the next generation of spacecraft that will carry U.S. astronauts to the International Space Station by the year 2017. The deal with private industry enables NASA to end its dependence on Russia to send space crews into low Earth orbit and back. Zlatica Hoke has more.
Video

Video Future of Ukrainian Former President's Estate Uncertain

More than six months after Ukraine's former President Viktor Yanukovych fled revolution to Russia, authorities have yet to gain control of his palatial estate. Protesters occupy the grounds and opened it to tourists but they are also refusing to turn it over to the state. VOA's Daniel Schearf reports from Mezhigirya, just north of Kyiv.


Carnage and mayhem are part of daily life in northern Nigeria, the result of a terror campaign by the Islamist group Boko Haram. Fears are growing that Nigeria’s government may not know how to counter it, and may be making things worse. More

AppleAndroid