The figures are in. The unemployment rates are up and the addition of jobs in March was half of what it was for February. Economists were encouraged by the increase in job figures in January and February but now some are beginning to conclude the growth was simply seasonal.
However, others are drawing conclusions in stride. They suggest one month of slower job growth isn’t cause for alarm. On the other hand, President Obama spoke out to reassure the American public, ““No issue is more important than restoring economic security for all our families in the wake of the greatest economic crisis since the Great Depression” (New York Times, March 6. 2012).
This is a hot topic for the presidential election campaign. Obama will credit any economic improvements to the implementation of his economic policies. Whereas opposing parties want to paint the picture of Obama’s efforts as futile. Both sides seeks to capitalize on the ups and downs of the economy to turn it to their favor.
The United States economy added 120,000 new jobs in March compared to the 240,000 job increase showcased in February. Analysts had forecasted a gain of 205,000 more job instead. After these projections, March’s outcome was rather disappointing.
Wall Street steadily grew strong in the first three months of this year. Consumers seemed to respond encouragingly to the job growth and positive economic breakthrough. “Still, many economists caution that there are headwinds as oil prices rise, putting a possible damper on consumer behavior just as it is showing signs of life” (New York Times, March 6. 2012).
Still, America must not lose heart. The positive economic improvements of 2012 should foster a renewed sense of hope and stability despite the dip in employment for March.