US labour market adds 175,000 jobs in May - but is still short of hoped-for levels
The unemployment rate rsoe from 7.5 to 7.6 per cent
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Friday 07 June 2013
The US labour market showed signs of improvement over May, with a new report today showing that the world's largest economy added a better than forecast 175,000 jobs over the month.
The unemployment rate, meanwhile, ticked up from 7.5 to 7.6 per cent, with the rise coming as more people returned to the labour market to look for jobs, a positive sign that underscores the recovery story.
The data, which was released in a monthly report from the US Labour Department, suggests that, if the trends persist, policymakers who steer the policies of the Federal Reserve might begin to roll back some of the central bank's stimulus measures by the end of the year. Currently, the Fed is buying $85bn in mortgage- and government-bonds every month to support demand, while at the same time keeping interest rates at record lows. While the latter is likely to remain unchanged, recent indications from the Fed chairman Ben Bernanke and from the minutes of the Fed's monthly policy meeting have pointed to the possibility of some kind of reduction in the bond buying programme as the economy improves.
The latest figures, thought positive, still fall short of the run rate of 200,000 jobs per month that many economists have said is needed before the stimulus measures are rolled back.
- 1 Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
- 2 Christians: The world's most persecuted people
- 3 The secret report that helps Israelis to hide facts
- 4 Danish TV reporter is all business up top, all party down below
- 5 Denmark bans kosher and halal slaughter as minister says ‘animal rights come before religion’
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
Israel-Gaza conflict: The children were playing in the street with toy guns. The missiles were tragically real
Danish TV reporter is all business up top, all party down below
Syria conflict: Syrian and Turkish Kurds unite to battle Isis threat - ‘We shoot them like sheep, but next day double the number return’
Ross Burden dead: MasterChef and Ready Steady Cook star, dies aged 45
The secret report that helps Israelis to hide facts
A day in the life of Vladimir Putin: The dictator in his labyrinth
Were 'Poor Doors' added to mixed developments so wealthy residents don't have to go in alongside social housing tenants?
A new Russian revolution: The cracks are starting to appear in Putin’s Kremlin power bloc
Arizona execution lasts two hours as killer Joseph Wood left 'snorting and gasping' for air
Opponents of Israel's military operation in Gaza are the real enemies of Middle Eastern peace
iJobs Money & Business
Data Governance Manager (Solvency II) – Contract – Up to £450 daily rate, 6 month (may go Permanent)
£350 - £450 Per Day: Clearwater People Solutions Ltd: We are currently looking...
£500 - £560 per day: Orgtel: Java Developer FX - Banking - London - Up to £560...
£350 - £400 per day + competitive: Orgtel: My client, a leading bank, is curre...
£26000 - £30000 per annum + Benefits: Ashdown Group: Account Manager - (Produc...