VOA标准英语2012--US Jobs Data Adds To Global Recession Fears

（单词翻译）

US Jobs Data Adds To Global Recession Fears

The U.S. government's closely-watched monthly employment report has become an important barometer¹ of the state of the world's largest economy. Combined with the debt crisis in Europe, and manufacturing slowdowns in Asia, Friday's jobs report paints a picture of a global economy in decline.

"The U.S. economic recovery remains² tepid³ and downside risks have intensified," said the International Monetary⁴ Fund's Managing Director, Christine Lagarde..

The risks include a sharp decline in business confidence, due to the failure of European leaders to find a comprehensive solution to what is now a three-year-old crisis. But Standard and Poor's Chief Equity⁵ Strategist Sam Stovall says it's not entirely⁶ the fault of Europe's leaders.

"I think politicians here in the U.S. as well have not done their job of instilling⁷ confidence on Wall Street as well as on Main Street and giving businesses reason to expand," Stovall said.

Both Lagarde and Stovall point to political discord⁸ in the U.S. Congress, and the possibility that lawmakers will once again be unable to agree on a deficit⁹ cutting plan and the expiration¹⁰ of tax cuts by the end of the year. Should that happen, Stovall believes the Federal Reserve is likely to step in with a third round of Quantitative¹¹ Easing -- essentially¹² pumping more dollars into the economy to stimulate¹³ growth.

"If the politicians allow us to fall off the fiscal¹⁴ cliff because of the sequestration, the forced cuts to medicare, to spending as well as the increases in taxes which the Congressional Budget Office has said, would likely throw us into recession," Stovall said.

Despite an increasingly dismal¹⁵ outlook and a Europe that most economists¹⁶ believe is already shrinking, Stovall says the risk of a much larger global recession remains small.

"Investors¹⁷ and people on Main Street are very worried that we slip back into recession, if not on our own, then at least dragged into it because of Europe and because of China, but right now the belief is that no, we probably will be able to skirt it," Stovall said.

The ratings agency projects China's economy will grow around 8 percent this year, with the U.S. economy picking up strength in the second half of 2012 with about 2 percent growth.