** People rescuing an injured passenger from inside a passenger bus hit by a truck on Dhaka-Mawa Expressway in Shologhar area of Shreenagar upazila in Munshiganj on Thursday. ** Motorcycles allowed on Padma Bridge after 10 months ** Commuters charge extra fare, passengers disappointed ** 78 people killed in Yemen stampede ** Moon sighting committee meets today to ascertain Eid day ** 9 killed in road accidents in 3 districts ** US announces new $325 m military aid package for Ukraine ** Eid-ul-Fitr in Saudi Arabia today ** Eid exodus begins ** LPG price cut illusive ** 15 hurt as bus overturns in capital ** New interbank cheque clearing timings set for Eid holidays ** Four women hit by a train die in Tangail ** 12.28 lakh SIM users left Dhaka on Tuesday ** Sylhet engineer threatened over power outage ** People rush to village homes to spend Eid holidays with their near and dear ones. This photo was taken from Sadarghat Launch Terminal on Tuesday. NN photo ** Surge in cases of dehydration, diarrhoea amid summer heat wave ** Padma Bridge construction cost increases by Tk 2,412cr ** PM gives Tk 90m to Bangabazar fire victims ** Textile workers block highway demanding wage, Eid bonus ** Attack on PM's motorcade Ex-BNP MP, 3 others get life term ** Load-shedding increases for demand of electricity during heat wave ** Motorbikes to be allowed on Padma bridge from Thursday ** 5-day Eid vacation begins from today ** Take Nangalkot train accident as a warning about negligence of govt functionaries **

US economy shows strength with solid jobs gains in May

08 June 2014

AFP, Washington :
US employers created more than 200,000 jobs for the fourth straight month in May, showing the country can still muster solid growth despite the weakness in Europe and other regions.
The US economy added a net 217,000 positions last month, nearly all from private companies, the Labor Department reported Friday.
It took the total number of working Americans to a new high, surmounting for the first time all of the 8.7 million jobs lost during the Great Recession of 2008-2009.
But there was still no progress in increasing the very low rate of participation in the workforce, which held at 62.8 percent, compared to 66 percent on the eve of the recession.
That suggested that the economy still has far to go to reach full employment.
Some 9.8 million people remained on the jobless rolls, slightly up from April.
The unemployment rate held for a second month at 6.3 percent, after falling sharply from 6.7 percent in March, mainly due to data showing a large number of people leaving the workforce.
Even so, economists said the May numbers were strong enough to suggest that the economy is picking up speed after the 1.0 percent contraction of the first quarter of the year.
Some predicted even stronger job creation numbers in the second half of the year.
"This is a solid report, marking four straight gains over 200,000; that hasn't happened for more than 14 years," said Ian Shepherdson of Pantheon Macroeconomics.
In an encouraging trend, the number of people forced to work part-time because they could not find full-time jobs dropped, and wages rose slightly during the month.
Almost all of the May gains were in the private sector, with governments at all levels adding only a net 1,000 workers.
The biggest chunk of new jobs came in the health care and social assistance sector, where almost 55 million positions were added.
The leisure and hospitality sector picked up 39,000 jobs, and the trade and transport sectors also added about that much.
But the construction sector, which economists have hoped would carry the economy forward, remained relatively weak, adding just 6,000 jobs.
Moody's Analytics pointed out that surpassing the pre-recession high for the number of people employed, to reach 138.5 million in May, was still only a modest achievement, given that the population grew by 14 million in the past six years.
"The labor market would need to create twice as many jobs to accommodate the growth in the working-age population, even at the current low labor force participation rate," it said.
Moody's economists noted that wage growth remained weak, and that with many of the new jobs being created in low-wage sectors, people who have dropped out of the jobs market have little incentive to return.

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