Job Growth Shrinking, Congress Gridlocked, Federal Reserve to the Rescue?

BloombergNews reports non-farm employment grew by only 115,000 in April, according to the Labor Dept., just enough to reduce the unemployment rate by .01 percent, down to 8.1. That brought the three month average increase down to 176,000 a month, a drop from the 252,000 average in February. However, the article points out the employment-to-population ratio through April suggests no actual job growth, which gives rise to economists’ prediction the unemployment rate will be no lower than seven percent by the end of 2014. The article says the best way to increase employment is government spending. Goldman Sachs’ analysts say as government stimulus declines, the economy will lose 1.5 percent growth this year. Giving the gridlock in Congress the only remaining method is for the Federal Reserve to provide stimulus. has learned it’s not as effective as government spending, the article notes, but “…it can help protect what little we have gained.”

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