Sluggish US economy points to more jobless misery
- Published: 31 May 2012 at 19.48
- Online news: World
The US economy grew more slowly than thought in the first three months of the year, new estimates showed Thursday ahead of the government's May jobs and unemployment report.
A woman exits a store in New York in 2011. The US economy grew more slowly than thought in the first quarter and lackluster jobs numbers suggested a sluggish second quarter that will do little to help the troubled labor market.
The Commerce Department said the world's largest economy expanded at an annual rate of 1.9 percent in the first quarter, instead of the 2.2 percent pace initially estimated last month.
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