nervousness ahead of us jobs report
Last Updated : GMT 09:42:23
Arab Today, arab today
Arab Today, arab today

Nervousness ahead of US jobs report

Arab Today, arab today

Arab Today, arab today Nervousness ahead of US jobs report

Washington - AFP

Trepidation foreshadows the release of key US jobs figures on Friday, a report that will mold perceptions about the path of the economy and the race for the White House. The Labor Department will publish jobs data for April, which economists expect to show unemployment stuck at 8.2 percent, with the economy creating a modest 162,000 jobs during the month. Like last week's tepid 2.2 percent economic growth figure for the first quarter, the jobs print will shape popular sentiment about the health of the economy as the presidential race gets underway. Rising unemployment would engender fears that the US economy is headed for another stumble and would prove a major headache for President Barack Obama as he looks toward the November vote. "Payrolls will assume an even greater significance on this occasion, given ongoing uncertainty over whether the US economy is set to suffer another summer slowdown as it did in both 2010 and in 2011," said Chris Walker of UBS. Confidence has become a shaky plank of the US recovery from the 2008-09 recession, hit by earthquakes, fiscal crises, revolutions and infuriatingly mixed data. Some 12.7 million workers remain unemployed across the country, according to the last jobs report. Unemployment dropped 0.1 point in March, but was marked by weakness in the retail sector and poor job creation figures. Since then, new claims for unemployment benefits -- an indicator of the pace of layoffs -- have ticked upward. "The notion that the economy is losing steam has gathered an increasing number of supporters in recent weeks," said Stephen Stanley of Pierpont Securities. Jitters have also been heightened by the Federal Reserve indicating no more stimulus is likely if the current slow-but-sustainable recovery continues. "Starting in 2012, the US economy may have to fend for itself," said Nigel Gault, an economist with IHS Global Insight. Friday's figures will also have political ramifications. They are published on the eve of the official launch of Obama's electoral campaign, against presumed Republican challenger Mitt Romney. On Saturday Obama will visit Ohio and Virginia to begin to make his case for re-election. Half of all voters say the economy is the single biggest issue in this November's election. Since Obama took office in January 2009, the unemployment rate has arched from 7.8 percent at inauguration to 10 percent as the impact of the financial crisis spread, and back down to 8.2 percent today. Obama's fate will turn on whether he can convince voters that his policies avoided another Great Depression and that his rival would return to the type of policies that failed in the past. On Tuesday Obama's campaign challenged Romney's past role as the head of Bain Capital -- a venture capital firm -- accusing him of moving jobs overseas. "As a corporate CEO he shipped jobs to places like Mexico and China," a campaign advertisement claimed. At the same time the Romney team has led a steady drumbeat of economic barbs against Obama. Last month Romney pounced on weaker than expected jobs data. "It is increasingly clear the Obama economy is not working and that after three years in office the president's excuses have run out," he said, hitting the theme underpinning his bid to evict Obama after a single term. The Labor Department figures for March showed the economy only pumped out 120,000 jobs, though the unemployment rate did dip from 8.3 percent to 8.2 percent -- a three-year low.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nervousness ahead of us jobs report nervousness ahead of us jobs report

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nervousness ahead of us jobs report nervousness ahead of us jobs report

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday