Bernanke Says Need Faster Growth to Dent Joblessness
By Staff Reporter | Mar 26, 2012 08:28 AM EDT
The economy needs to grow more quickly if it is to produce enough jobs to bring down the unemployment rate further, Federal Reserve Chairman Ben Bernanke said on Monday.
Bernanke said the recent decline in jobless rate, which dropped from 9.1 percent last summer to 8.3 percent in February, was "somewhat out of sync" with the rather modest pace of economic growth.
U.S. gross domestic product grew 3 percent in the fourth quarter, but is expected to have slowed to just below 2 percent in the first three months of this year.
"Further significant improvements in unemployment will likely require faster economic growth than we experienced during the past year," Bernanke told a gathering of the National Association for Business Economics.
Related Articles:
Bernanke Warns US Job Market Weak Despite Gains
Most Popular
-
1
Setting Boundaries: Why It Is Important to Separate Personal and Professional Relationships -
2
Workplace Distractions That Kill Productivity: It's in Our Hands All the Time -
3
Airlines Industry Report: Passenger and Cargo Airline Employment Statistics as of May 2024 -
4
Diehard Democrat Fired After Posting What She Intended to Be 'Comedic' About Trump’s Assassination -
5
Customs and Border Protection Works with Canines as Biosensors of Smuggled Fentanyl, Firearms at the Mexico Border -
6
Secret Service Faces Scrutiny Over Trump’s Assassination, Causing Calls for The Chief’s Resignation -
7
Even Elon Musk Hates Office Jargons. Here’s Why