'American economy added 155,000 jobs in December'
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'American economy added 155,000 jobs in December'

Last Updated: Sunday, January 06, 2013, 08:40
 
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'American economy added 155,000 jobs in December'
Washington: The US Labor Department has said that the country’s economy added 155,000 jobs in December as the unemployment rate stayed steady at 7.8 percent.

According to a survey, the job additions matched the expectations of economists, who expected the unemployment rate to tick up slightly to 7.8 percent.

The Bureau of Labor Statistics also revised figures for October down to 137,000 from 138,000 and for November up to 161,000 from 146,000.

According to ABC News, jobs were added in the sectors of health care by 45,000, food services and drinking places by 38,000, construction by 30,000 and manufacturing by 25,000.

Stephen Bronars, chief economist with Welch Consulting, said the economy is adding enough jobs to just keep pace with population growth, as employment relative to the population is unchanged over the past year.

He also said that job growth needs to be much higher in order to gain back the millions of jobs that were lost in the recession in 2008 and 2009.

According to the paper, he pointed out that jobs are not being created at a sufficient rate for a robust recovery.

ANI



First Published: Sunday, January 06, 2013, 08:40


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