Businesses dramatically scaled back hiring in May, pushing the nation’s unemployment rate up to 8.2 percent and stoking fears that the economic recovery has stalled once again.Read the rest here.
The Labor Department reported Friday morning that the country added a meager 69,000 jobs last month — less than half the number economists had expected. It also revised its estimate of job growth in April down from 115,000 to just 77,000.
Markets fell sharply at the news. By early afternoon, the Dow Jones, Standard & Poor’s and Nasdaq indexes had tumbled around two percent, with the Dow falling more than 200 points.
is the blog of an Orthodox Christian and is published under the spiritual patronage of St. John of San Francisco. Topics likely to be discussed include matters relating to Orthodoxy as well as other religious confessions, politics, economics, social issues, current events or anything else which interests me. © 2006-2024
No comments:
Post a Comment
Please read the guidelines in the sidebar before commenting.