Unemployment Rises to 8.2% As More People Resume Their Job Hunt; Employers Add Fewer Jobs
Washington, D.C. -
The nations unemployment rate rose to 8.2% from 8.1% as more people who had given up looking for work re-start their efforts to find a job. Hiring also dropped, economist had expected to see 150,000 new jobs but instead saw 38,000 less than their goal.
But "this is not necessarily bad news" says economist Greg Forester, who added that the rise in unemployment can be seen as a good sign, that more people are starting t believe they will find work and are returning to the work force.
Either way, the decline in new jobs was significant compared to March which only had 11,000 fewer jobs added.
Europe's economic problems and growing banking crisis is leading the way for investors and businesses to remain cautious, and Washington D.C.'s deadlock over a looming budget battle also has helped keep consumer confidence down.