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By Mangosuthu Buthelezi
Memories of a long brotherhood tempered in common struggle
Independent voices from the The Washington Times Communities
Topic - John Silvia
Worries about the federal government’s “fiscal cliff” are taking a toll on the economy well ahead of the year-end deadline, which analysts say is looking like it may be more damaging in the run-up than in the reality.
The Great Recession sent millions of Americans scurrying back to school to improve their chances of securing jobs. But the difficulty that recent college graduates have had finding work — after taking on unprecedented loads of debt — has sparked a lively debate about whether a college degree opens doors the way it once did in the job market.
The nation's unemployment rate edged up from 8.1 percent to 8.2 percent last month as businesses from factories to office parks pulled back on hiring, the Labor Department reported Friday morning.
The nation's unemployment rate continued its rapid decline last month, falling to 8.1 percent as another 115,000 jobs were added throughout the economy, the Labor Department reported Friday morning.
The U.S. economy picked up speed last quarter, growing at a 2.8 percent pace compared to a 1.8 percent rate in the summer quarter of 2011, the Commerce Department reported Friday morning.
Job growth picked up to 103,000 last month, defying fears of a gathering slowdown in the economy, while the unemployment rate held steady at 9.1 percent, the Labor Department reported Friday morning.
Job growth ground to a halt last month in the strongest evidence to date that businesses were hit as hard as consumers by a sharp loss of confidence during the month spawned by Washington's debt crisis and severe turmoil in the world's financial markets.
Global markets recently fixated on the budget fight in Washington, but have remained mostly calm, in part because many investors think the Treasury Department will be able to avoid default for at least a week or two beyond the Aug. 2 "drop dead" deadline touted by the White House.
A second straight month of paltry job growth in June sent the unemployment rate rising to 9.2 percent, showing that the economy remained in a deep pause, the Labor Department reported Friday morning.
The economy is entering the third year of an expansion that has been marked by robust business profits and a historic revival of Detroit's automaker industry, among other boons, but most Americans don't feel satisfied, opinion polls show.
The nation's job market provided more evidence of a broad slowdown in the economy in May, with a sharp deceleration of job growth sending the unemployment rate up to 9.1 percent, the Labor Department reported Friday morning.
The job market improved significantly last month as employers created 192,000 new jobs, drawing down the nation's unemployment rate to 8.9 percent, the Labor Department reported Friday morning.
The nation's unemployment rate plunged from 9.4 percent to 9 percent last month apparently as thousands of people decided to sit out snowstorms and suspended their search for work, the Labor Department reported Friday morning.
The nation's unemployment rate fell to 9.4 percent last month, the lowest level since May 2009, after a year in which employers created more than a million jobs, the Labor Department reported Friday morning.
The economy and markets got off to a strong start in the new year as signs emerged Monday of gains in manufacturing, construction and employment.
While putting off the deadline would prolong the uncertainty and anxiety for a while longer, it would not do the kind of major damage to the economy that has been trumpeted in headlines this year, striking fear in the hearts of some businessmen, he said.
"The effects on U.S. economic growth from political uncertainty were well documented during last year's debt-ceiling debate," he said.