Jobs

Rapidly changing demographics, a government’s desire to be more consumption-driven and a much more conscious workforce are all factors in China’s recent hike in wage rates, a phenomenon which could proved to be a doubled-edged sword from a U.S. perspective.

The Economic Policy Institute found that, despite positive job growth, the economy is not creating nearly enough jobs to make up for all those lost during the recession.

Obama administration officials spent the weekend cautioning that the unemployment rate would stay high for some time. The economy created 162,000 jobs in March, however, the unemployment rate remained unchanged at 9.7 percent.

President Obama signed into law a $38 billion piece of legislation on Thursday designed to spur job growth through tax cuts and infrastructure spending, although many economists dispute just how effective the bill will actually be.