Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Ebola virus : Liberia shuts most border points

Read more

MEDIAWATCH

"What would you do?"

Read more

DEBATE

Too Late for Sanctions? Pressure Mounts on Russia over Ukraine (part 2)

Read more

DEBATE

Too Late for Sanctions? Pressure Mounts on Russia over Ukraine

Read more

FOCUS

As France’s Carrefour pulls out, what next for India’s retail market?

Read more

#TECH 24

Internet of Things

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014 (part 2)

Read more

REPORTERS

Halal tourism on the rise

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014

Read more

  • Israel warns of ‘prolonged’ campaign in Gaza

    Read more

  • In pictures: From Gaza to Mosul, bittersweet end of Ramadan for Muslims

    Read more

  • France offers asylum to Iraqi Christians

    Read more

  • Tripoli threatened by out of control blaze

    Read more

  • Moroccan police arrest French al-Qaeda recruiter

    Read more

  • Russia ordered to pay Yukos shareholders over $50bn in damages

    Read more

  • French mayor files complaint against US father who risked kids’ lives on Mont Blanc

    Read more

  • French footballer Griezmann headed to Atletico Madrid

    Read more

  • Luc Besson’s sci-fi thriller ‘Lucy’ tops US box office

    Read more

  • Video: Slaviansk mourns mass grave victims

    Read more

  • France honours those lost on Air Algérie Flight AH5017

    Read more

  • Video: Ethiopia turns to wine to boost image, economy

    Read more

  • Thousands gather in Marseille in support of Israel

    Read more

  • As France’s Carrefour pulls out, what next for India’s retail market?

    Read more

  • Liberia tightens border controls to curb Ebola outbreak

    Read more

  • The centenary of Austria-Hungary’s calamitous last hurrah

    Read more

  • Nibali joins elite group with Tour de France win

    Read more

Business

US economy sheds more jobs, but at slower pace

Text by News Wires

Latest update : 2010-09-03

US officials said Friday that the economy had shed a further 54,000 jobs in the month of August; a figure well below analysts' worst estimates, but a reminder nonetheless of the fragility of the current recovery.

AFP - US unemployment jumped to 9.6 percent in August, the Labor Department said Friday, showing the recovering economy is still struggling to create jobs.
  
In a keenly awaited unemployment report, the department said the economy lost 54,000 jobs last month, a better figure than the 120,000 loss expected by economists.
  
The figures are seen as a crucial litmus test for the sputtering economic recovery and President Barack Obama's policies.
  
Economists had predicted the unemployment rate would rise to 9.6 percent, one tenth of a percentage point above July levels, although much better than the 10.1 percent posted in October.
  
The news was seen by Wall Street as moderately good news, but will throw up challenges for the White House and the Federal Reserve as they struggle to help the jobs market to its feet.
  
The White House has ruled out an "extraordinary" new economic stimulus plan to fire up the slowing recovery, but has said that Obama is scouting new ideas to boost jobs and growth.
  
Obama is expected to address the latest jobs figures later in the day, as he begins a heavy slate of economy-themed events, including travel to the hard-hit Midwest to highlight his economic recovery plans and the hosting of a major press conference next Friday.
  
But with many lawmakers fretting ahead of November's mid-term elections and public concern mounting over the forecast 1.4-trillion-dollar budget deficit, Obama's leeway is limited.
  
One bright spot in the August jobs report was the private sector's ability to create a much better than expected 67,000 jobs, although that was not enough to offset the government releasing around 114,00 temporary census workers.

Date created : 2010-09-03

  • USA

    Congress warned of further gloom for US economy

    Read more

  • CINEMA

    Franco-Swiss documentary tackles US economic woes with a twist

    Read more

COMMENT(S)