07 Jan '12, 3am

US jobs picture improves but risks remain

US jobs picture improves but risks remain

WASHINGTON: US unemployment fell for the fourth straight month in December and jobs creation picked up, but economists warned that Europe's debt crisis and a rise in oil prices could yet scuttle the recovery. In its keenly awaited monthly jobs report Friday, the Labor Department said the unemployment rate slipped to 8.5 percent as 200,000 jobs were added last month. The jobless rate was the lowest since February 2009, the month after President Barack Obama took office amid the worst US recession in decades. As recently as August the rate stood at 9.1 percent, and economists cheered the new numbers as evidence that economic growth, feeble throughout much of 2011, was gaining traction. "This is the best possible type of report, as job creation in December was strong and the unemployment rate fell," said Jason Schenker at Prestige Economics. "This report provides further just...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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