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-- OriginalOwner_ [tinyurl.com] writes:

from the fewer-and-fewer-consumers-as-well dept.

The World Socialist Web Site reports [wsws.org]

The US economy continued to stagnate in April, creating a mere 160,000 jobs, far fewer than the 200,000 predicted by economists and the lowest number in seven months, according to the monthly employment report released Friday by the Labor Department.

Employment gains have averaged 192,000 a month so far this year, well below 2015's average of 229,000 jobs a month.

The official unemployment remained at 5.0 percent, while employment fell by the most since 2013. The labor force actually declined, with 362,000 people dropping out of the labor market. The labor participation rate--the share of working-age people in the labor force--dropped to 62.8 percent from the previous month's 63 percent. The employment-to-population ratio also declined, falling to 59.7 percent.

These dismal figures are consistent with recent data showing a sharp deceleration in US economic growth, which has slowed for three consecutive quarters. Last week, the government reported that the nation's gross domestic product rose by only 0.5 percent in the first three months of 2016, the weakest quarterly pace in two years. Of particular significance was a dramatic decline in business investment, portending more months of minimal job growth.

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