- John Kerry condemns attack on Israeli soldiers, kidnapping
- U.S. starts to evacuate American Ebola patients from West Africa: Report
- Geraldo slammed as ‘dummy’ for backing Clinton’s bin Laden claim
- Israeli spokesman: No need to debate who broke the cease-fire
- 35 Palestinians killed; Israeli officer missing
- Feds raid S.C. home to seize Land Rover in EPA emission-control crackdown
- Unemployment rose to 6.2 percent in July; 209K jobs added
- Dave Brat wishes Eric Cantor well, says he’s ready to take over on Nov. 5
- Ugandan court invalidates controversial anti-gay law
- Al Sharpton to NYC Mayor Bill de Blasio: ‘I’ll be your worst enemy’
Both parties recognize the Democrats' scam
Topic - John Silvia
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 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.
Growth in jobs last month was not fast enough to prevent the unemployment rate from ticking up to 9.6 percent from 9.5 percent, the Labor Department reported Friday morning.
The economy resumed healthy growth during the spring after a winter lull, an employment report confirmed yesterday, with 132,000 jobs gained last month and a nearly 4 percent rise in wages seen over the past 12 months.
"There's no double-dip, but no rapid recovery, either," said John Silvia, chief economist at Wells Fargo Securities. "It's reassuring to see gains in many sectors,"
he added that there are really two job markets — one for service professionals like doctors and accountants that is booming, and a weakening market in manufacturing and construction where jobs are disappearing.