Economy Looks Sluggish In Spite Of Employment Growth

Though the US economy created a large numbers of jobs in the month of October, growth still seems to be sluggish. According to report published by the US Labor Department, employers have been able to add 80,000 payroll jobs and it was slightly less than what the market was expecting.

The report has also shown some light on the ground that growth of jobs in the months of August and September was much more than what was believed by the Labor Department. As a result, the upward trend continued in the month of October as well.

Though the news of employment growth has been encouraging to an economy which was reeling under the fear of another round of recession, the figure was not impressive to reduce the backlog of the 14 million unemployed workers. The unemployment rate now stands at around 9% and before the beginning of recession, the figure stood around 4.6%. The biggest challenge is to employ those Americans who have been out of job for years or months.

Though the increasing numbers of payrolls are an important indicator of the economic revival of the nation, what haunts most is the economic uncertainty that may come because of several reasons both at home and abroad. Factors like euro crisis and bailout deal of Greece may have severe impact on the economy of the entire region.

JIT Mukherjii
After completing his MBA in Financial Management, he decided to shift to writing and took it as his full time career. Being the Editor-in-chief of this web magazine, he has got diverse interest in the field of politics and business related matters.

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