Unemployment Grips The Country
The US market was down once again with 663000 which was more than the expected of 660000. The unemployment was 8.5% in March which has increased as it was only 7.6 % in the month of January. This unemployment was mainly due to the goods producing industries and the consumer industries which cut out many jobs. The work week was reduced to 32.3 from the 33.2 monthly this was much affected in the manufacturing industry. This weakening in the unemployment leads to the downward pressure in the working hour wages. The consumer spending has also drastically reduced. SO in order to increase the employment the consumer spending must also adjust to bit high.