Everyone is watching the developments in the United States economy nowadays as the world depends heavily on the largest economy. The Labor department released its latest report on the work force and it said that the unemployment rate is lowest since last seven year. But the exports are pointing out that the number of new jobs added is lowest too and the current picture is not healthy for the long term future of the economy.
The latest unemployment rate is 5.4 percent in the United States. This has definitely boosted the morale of investors and workers during the start of ambitious second quarter. The Non-farm sector added 223,000 payroll but recruitment decreased in the domain of service sectors and construction jobs. The mining sector has also given mixed signals in terms of job creation, according to the data by Labor Department. But definitely more people are employed in US since May 2008, when the financial crisis resulted in massive unemployment world over.
The March payrolls do not suggest any solid growth in the wages. This can discourage the central bank to raise the interest rates. The economic momentum has been absent during first quarter though job report has been largely positive. The report was just not positive enough to force the officials in the Treasury Department to hike the rates before the month of September. Only 85,000 jobs have been added in March, lowest since June 2012. This clearly points out the weaknesses in the economy. The stock market received the job report well and registered 1 percent overall growth in the stocks.