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Latest Stats Point to a Slowing US Economy

CBN

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Growing evidence shows that the U.S. economy is slowing down, according to a new report by the Labor Department.

The news comes just three months after President Barack Obama talked about how strong the economy is in his State of the Union address. He also vowed that his economic policies would continue to work.

But barely 100,000 jobs were created in March, and the amount of money Americans brought home in an average weekly paycheck fell.

Some say part of the reason for the weaker economy is the tough winter in parts of the country. Others say the stronger dollar has hurt U.S. businesses overseas.

"Today's sluggish job numbers, job revisions and mild wage growth are signs the Federal Reserve should keep interest rates low for the foreseeable future," NPR quoted AFL-CIO economist Bill Spriggs said.

"Today is confirmation the economic recovery is incomplete and we have a long way left to go."

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