US created more jobs than expected in April
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