Investors abandoned stocks Friday after the U.S. government reported that only 80,000 jobs were created in June, the third straight month of weak hiring.
The Dow Jones industrial average fell 124.20 points to close at 12,772.47. The loss wiped out the Dow's gain for the week.
The reluctance of U.S. employers to add jobs shows that the economy is still struggling three years after the recession officially ended. An average of just 75,000 jobs were created every month in the April-June quarter, far below the 226,000 created every month in the first three months of the year.
US stocks plunge after weak June jobs report | HeraldNet.com - Work
Showing posts with label New Jobs. Show all posts
Showing posts with label New Jobs. Show all posts
12/5/10
US adds less jobs in a sluggish economy
A sluggish US economy added just 39,000 jobs in November while the unemployment rate rose to 9.8 percent, tempering hopes of a quick recovery from its worse slowdown in decades.
The numbers marked a major slowdown from October, when US employers added an upwardly revised 172,000 jobs, the Labor Department job report released Friday said.
For more: US adds less jobs in a sluggish economy - The Economic Times
The numbers marked a major slowdown from October, when US employers added an upwardly revised 172,000 jobs, the Labor Department job report released Friday said.
For more: US adds less jobs in a sluggish economy - The Economic Times
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