FINANCIAL TIMES: US employers added 88,000 jobs in March – less than half what was expected and a much slower pace of growth than earlier this year – jolting markets and triggering concerns about a fresh slowdown in the world’s largest economy…
They will also increase the pressure on the White House and Congress to reach a deal on US fiscal policy, since they suggest that the labour market is starting to suffer from tax increases that began in January and automatic budget cuts that began last month…
“While the recovery was gaining traction before sequestration took effect, these arbitrary and unnecessary cuts to government services will be a headwind in the months to come, and will cut key investments in the nation’s future competitiveness,” he warned… (more)
EDITOR: We are doing the same thing now as we did in 1936 and having the same result…heading back into recession.
