US created more jobs than expected in April

Washington, May 3: The United States created 1,65,000 jobs in April, a little more than it was predicted, pushing the rate of unemployment down to 7.5 per cent, government sources said on Friday.

The economy, which had started on a strong note in 2013, has been gradually signs of weaknesses more recently, making experts to caution about another collapse.

The rate of job creation in April compares with an average of 1,68,000 jobs added a month in the first quarter this year and 2,09,000 in the fourth quarter last year. Experts had predicted that 1,40,000 jobs were added before the actual figure was announced on Friday.

Financial experts have been saying that the economy will slow down in the second quarter, largely because of fiscal tightening in Washington. Payroll taxes were increased in January and across-the-board spending cuts effected by the Congress in March and experts felt that the impact of these moves are likely to be felt more in the months ahead.
The manufacturing sector, which is considered a gauge of broader economic strength, was unchanged in April while government job fell by 11,000. Private job creation was 1,76,000.

OneIndia News

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