Dr. Peter Morici: Faltering US recovery casts shadow on jobs outlook; Report says employment in private business rose 38,000 in May
Jun 2nd, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Dr. Peter Morici: Economists expect the US Labor Department will report the economy added 190,000 jobs in May, after adding 233,000 per month February through April. While much stronger than during the first 19 months of the recovery, jobs growth remains too weak, and the economy is in danger of slipping into a second recession. Longer term, the nation faces fundamental structural problems that neither political party seems willing to address in a comprehensive and systemic fashion. Separately, a report published on Wednesday said employment in the US nonfarm private business sector rose 38,000 in May.