Thursday, May 17th, 2012

U.S. Economy Creating Jobs, But Not Enough To Bring Down The Unemployment Rate

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United States is creating new jobs gradually, but that is just not enough to bring down the unemployment rate and fears over the country’s economic growth is on the horizon that it could slip back into a double dip recession again.

However, with an inflating European debt crisis i.e. sending alarming waves across the Atlantic and with an ongoing worry over the tormented political landscape here, but there are some sign that employers in United States will recruit unemployed people to put them back to work in the near future.

On Friday, The Labor Department reported, in September the American employers created 103,000 net new jobs, showing signs that the economy is not as fragile as people are saying that it is. After seeing the businesses enduring the oil price upset.

The government also went through its estimated report for the last two months, which showed that job growth in the previous months was better than reported at first.

However, on the other hand the economic growth is not as fast as it should have been to cut down the unemployment rate, which was hovering around 9% in September. School districts and local governments are reducing large number employers from work.

In over two years after the recovery officially began an approximate 14 million people are seeking for a new job, a little less than half of them for at least six months.

The unresponsive jobs report gave an added advantage to the Republican rivals, who rushed on to the Friday’s results.

Chief United States economist at MFR, Joshua Shapiro said, the employment numbers for September were surely not reliable.

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