Weak Job Growth in May as Unemployment Rate Ticked Up - NYTimes.com - 0 views
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Shoko Kuroda on 04 Jun 12The title of the article indicates that it is about unemployment which is in the field od macroeconomics.
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The unemployment rate rose to 8.2 percent in May from 8.1 in April, though largely because more people began looking for work.
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Unemployment raises when there is more demand for working because no matter whether there is an increase or decrease in the working labour force, the number of available jobs are limited. Because there is a limited number in the number of jobs, the increase in demand for employment raises the unemployment rate.
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The report on American jobs added to the global pall that has deepened with Europe’s debt crisis and slowing growth in China and India.
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This indicates the influence of America's unemployment rate as well as their economic growth to the other major countries, such as China and India. A increase in America's unemployment rate resulting in a decrease in America's GDP growth has affect on the economy of China and India, such as in exporting goods.
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Yields on United States and German government bonds also slumped as investors bid up the bonds’ prices looking for safety.
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The underlying pace of the domestic economy is a slog, driven by manufacturing and restrained by slackening global demand.
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The May jobs report showed gains in health care, transportation and warehousing, and wholesale trade, while construction jobs fell by a seasonally adjusted 28,000. Even some bright spots, like booming auto sales, failed to meet expectations or to bolster manufacturing employment by much — only 12,000 jobs.
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