News / USA

US Jobless Rate Falls to Two-Year Low

Bureau of Labor Statistics Commissioner Keith Hall testifies before the Joint Economic Committee on Capitol Hill in Washington, April 1, 2011
Bureau of Labor Statistics Commissioner Keith Hall testifies before the Joint Economic Committee on Capitol Hill in Washington, April 1, 2011

Multimedia

More signs that the world's largest economy is on the mend: The U.S. Labor Department reported private employers hired more than 200,000 new workers last month. That sent the nation's unemployment rate to 8.8 percent, the lowest level in two years.

The job picture is looking brighter for many Americans. Private employers get much of the credit, adding a net total of 216,000 jobs in March.  
Labor Statistics Commissioner Keith Hall said it is the second straight month the economy has added more than 200,000 jobs.

"For more than two months we've had pretty steady job growth. It's been around 135,000, 140,00 a month. In the last two months, looks like we may be getting an acceleration in job growth, which would be a good sign."

The nation's unemployment rate is now 8.8 percent; down from 9.8 percent in December - the sharpest four-month drop in nearly 30 years.

At a UPS shipping facility in Maryland on Friday, President Barack Obama joked that the better than expected job numbers mean more packages to deliver. But he struck a more serious note, saying his administration's top priority remains job creation.

"And I will not be satisfied until every American who wants a good job can find one, and every American gets a shot at the American dream.  That's what we're focused on, that's what we're fighting for."

At the New York Stock Exchange, investors were also focused on the job numbers - sending stock prices sharply higher. With domestic manufacturing and exports rising, analysts say companies are likely to pick up the pace of hiring this year.

Boeing CEO Jim McNerney said his company is among those planning to expand. "Engaged, well-deployed multinationals, I think you are going to see adding more jobs, including the Boeing company. We are going to add a few thousand jobs this year basically to fund growth on the commercial side of our business."

Republicans welcomed the positive job numbers. But House speaker John Boehner said the administration's  policies are adding to the economic uncertainty. "It's clear that we need to cut spending. We need to stop unnecessary regulations, end the threat of tax hikes and pass the trade bills that are out there. Those are the pillars of the Republican plan that will actually create jobs in America."

Despite steady job growth, some 13.5 million Americans are still out of work. That's almost twice as many as before the recession began in December 2007.

You May Like

Ukraine Purges Interior Ministry Leadership With Pro-Russian Ties

Interior Minister Avakov says 91 people 'in positions of leadership' have been fired, including 8 generals found to have links to past pro-Moscow governments More

US Airlines Point to Additional Problems of any Ebola Travel Ban

Airline officials note that even under travel ban, they may not be able to determine where passenger set out from, as there are no direct flights from Liberia, Guinea or Sierra Leone More

Nigerian President to Seek Another Term

Goodluck Jonathan has faced intense criticism for failing to stop Boko Haram militants More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Talks to Resume on Winter Gas for Ukrainei
X
Al Pessin
October 25, 2014 4:21 PM
Ukrainian and Russian officials will meet again next week in an effort to settle their dispute over natural gas supplies that threatens to leave Ukraine short of heating fuel for the coming winter. VOA’s Al Pessin reports from London the dispute is complex, and has both economic and geopolitical dimensions.
Video

Video Talks to Resume on Winter Gas for Ukraine

Ukrainian and Russian officials will meet again next week in an effort to settle their dispute over natural gas supplies that threatens to leave Ukraine short of heating fuel for the coming winter. VOA’s Al Pessin reports from London the dispute is complex, and has both economic and geopolitical dimensions.
Video

Video Smugglers Offer Cheap Passage From Turkey to Syria

Smugglers in Turkey offer a relatively cheap passage across the border into Syria. Ankara has stepped up efforts to stem the flow of foreign fighters who want to join Islamic State militants fighting for control of the Syrian border city of Kobani. But porous borders and border guards who can be bribed make illegal border crossings quite easy. Zlatica Hoke has more.
Video

Video China Political Meeting Seeks to Improve Rule of Law

China’s communist leaders will host a top level political meeting this week, called the Fourth Plenum, and for the first time in the party’s history, rule of law will be a key item on the agenda. Analysts and Chinese media reports say the meetings could see the approval of long-awaited measures aimed at giving courts more independence and include steps to enhance an already aggressive and high-reaching anti-corruption drive. VOA’s Bill Ide has more from Beijing.
Video

Video After Decades of Pressure, Luxembourg Drops Bank Secrecy Rules

European Union finance ministers have reached a breakthrough agreement that will make it more difficult for tax cheats to hide their money. The new legislation, which had been blocked for years by countries with a reputation as tax havens, was approved last week after Luxembourg and Austria agreed to lift their vetoes. But as Mil Arcega reports, it doesn’t mean tax cheats have run out of places to keep their money hidden.
Video

Video Kobani Refugees Welcome, Turkey Criticizes, US Airdrop

Residents of Kobani in northern Syria have welcomed the airdrop of weapons, ammunition and medicine to Kurdish militia who are resisting the seizure of their city by Islamic State militants. The Turkish government, however, has criticized the operation. VOA’s Scott Bobb reports from southeastern Turkey, across the border from Kobani.
Video

Video US ‘Death Cafes’ Put Focus on the Finale

In contemporary America, death usually is a topic to be avoided. But the growing “death café” movement encourages people to discuss their fears and desires about their final moments. VOA’s Jerome Socolovsky reports.
Video

Video Ebola Orphanage Opens in Sierra Leone

Sierra Leone's first Ebola orphanage has opened in the Kailahun district. Hundreds of children orphaned since the beginning of the Ebola outbreak face stigma and rejection with nobody to care for them. Adam Bailes reports for VOA about a new interim care center that's aimed at helping the growing number of children affected by Ebola.

All About America

AppleAndroid