Tag: U.S economy

U.S. job creation weak, even as unemployment rate falls to 4.7% | CNN Money

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U.S. unemployment fell to 4.7%, the lowest rate since 2007. But job creation was very weak.

The U.S. economy only added 38,000 jobs in May, according to the Labor Department. It was the worst monthly job gain since 2010.

It’s also well below April’s meager job gains of 123,000. Job creation in the last two months has been markedly below the average of 200,000 jobs created per month over the past couple years.

The drop in unemployment came as more disheartened Americans stopped looking for jobs and dropped out of the labor force in May.

‘It’s a pretty gloomy report, hard to find a silver lining in this one,” says Curt Long, chief economist at the National Association of Federal Credit Unions.

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Four Ways Millennials Are Still Scarred From the Recession | Bloomberg Business

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With the U.S. economy gaining steam, employers are finally hiring — and those benefits have spread to most corners of the job market.  Even America’s young adults, who bore the brunt of the downturn, are starting to regain their economic footing.

That doesn’t mean all is well for millennials, especially those who entered the workforce when things were at their worst. Improvements in the headline statistics mask some of the longer-lasting effects of the recession.  Here are some of the scars that recession graduates may bear for a long time to come.

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