WASHINGTON — High unemployment isn’t going away.
The slow pace of economic growth shows the recovery is too weak to generate enough jobs for 15.3 million unemployed people. Layoffs are contributing to the problem. That’s evident from an elevated number of weekly claims for jobless aid.
The economy grew at a 3 percent annual rate from January to March, according to a new estimate released by the Commerce Department on Thursday. The new reading, based on more complete information, was slightly weaker than an initial estimate of 3.2 percent a month ago.
Consumers spent less than first estimated. Same goes for business spending on equipment and software. The nation’s trade deficit was a bigger drag on the economy.
In a separate report, the Labor Department said the number of new jobless claims fell to 460,000 last week. But that’s actually higher than it was at 2010’s start.
