US economy added 288,000 jobs in June, latest figures from the Bureau of Labor Statistics have shown. The unemployment rate dropped to 6.1%, its lowest level since September 2008.
The number of US citizens filing new claims for jobless benefits unexpectedly rose last week, suggesting the labour market is healing too slowly to make much of a dent in the unemployment rate. However an official from the Federal Reserve said US economic data in recent weeks had improved.
The US economy created jobs at the fastest pace in nine months in January and the unemployment rate dropped to a near three-year low of 8.3%, indicating last quarter's growth carried into early 2012.
The US unemployment rate fell to a two and half year low of 8.6% in November and companies stepped up hiring, further evidence the economic recovery was gaining momentum.
Top opposition Republicans in Congress criticized today President Barack Obama's proposal to pay for a job creation plan by eliminating 467 billion dollars in tax breaks for wealthier Americans and corporations.
The US current account deficit rose 6.3% to $119.3bn in the first three months of the year, the Commerce Department has said. Strong exports of cars, computers and machinery were offset by imports, particularly of more expensive oil.
The inability of the United States Congress and the administration to move three stalled free trade agreements is hurting US economic growth, testified American Farm Bureau Federation President Bob Stallman before the House Agriculture Committee.
The U.S. economy added 192,000 jobs in February while the unemployment rate fell to 8.9%, the lowest in nearly two years, the Labour Department said Friday. Last month’s jobs gain was the best since May.