Useful terms and expressions

• euro zone — еврозона (валютный союз, объединяющий страны Европейского Союза, официальной валютой которых является евро)

• deteriorating conditions- ухудшение условий

• a percentage point- процентный пункт

• the export machine was running hot — темпы роста в отраслях, ориентированных на экспорт, были исключительно высокие

TEXT 6

Morning in America?

It has been no easy road getting here, and the path ahead looks rocky, but a real recovery seems to be developing for America's long-suffering workers. This morning, the Bureau of Labour Statistics released new data on American employment, which showed a third consecutive month of robust job growth. Where previous reports contained a hint of weakness here or there, the fundamentals of this report look almost uniformly strong.

Payroll employment rose by 227,000 jobs in February. That marked a third consecutive month with job growth over 200,000. Private-sector employment did even better. Private businesses have added over 750,000 jobs in just the last three months and 2.2m in the past year. February's report may actually be better than it looks. The latest release revised up job gains over the previous two months by 61,000.

Firms are adding workers across the economy. Manufacturing employment rose 31,000 in February and is up 227,000 over the last 12 months. Professional and business services continue to add labour at a rapid clip, including new temporary positions which indicate that further hiring may be on the way.

If there is a cloud to this silver lining, it is the reminder that America's economy remains quite far from where it ought to be. The 8.3% unemployment rate, while down sharply from a year ago, is still well above what economists consider to be the normal level. There are still nearly 13m unemployed Americans, and total employment is still just over 5m jobs short of the pre-crash peak.

Confidence in the American economy looks as good as it has in years, and is especially striking by comparison with the outlook across most of the world. If the recovery has taught us anything, however, it is to take nothing for granted.

(кол-во знаков- 1779)

The Economist

NOTES

"Morning in America" is the common name of a political campaign television commercial featuring images of Americans going to work and a calm, optimistic narration that suggests improvements to the U.S. economy.

The phrase "It's morning again in America" is used both as a literal statement (people are shown going to work), and as a metaphor for renewal.

Useful terms and expressions

• Bureau of Labour Statistics- Бюро трудовой статистики (подразделение Министерства труда США, ответственное за обработку и распространение статистических материалов по вопросам труда и занятости)

• to release data- опубликовать данные

• payroll employment – занятость по данным платежных ведомостей

• manufacturing employment – занятость в сфере производства

• to add jobs- создавать рабочие места

• to revise up – пересмотреть в сторону повышения

• at a rapid clip – высокими темпами

• to be well above- быть существенно выше

• pre-crash peak- докризисный максимум

• outlook- перспектива

TEXT 7

Translate the following article in writing and comment on the ways to decrease youth unemployment.