The big story about the U.S. Crisis is about U.S. employment data. The unemployment rate grew from 4.4% in March 2007, to 4.5% in April 2007. However, there was an increase of nonfarm payroll of 88,000 jobs, which was lower then March's 177,000 increase. March's report was lower then the 110,000 gain that was expected by the Fed. The job creation has decelerated, unemployment rises and wage gains moderate. These are some of the reasons why the economy is slowing down. Janet Yellen, president of the Federal Reserve Banks of San Francisco states in the wsj, "this past week framed it this way: If the economy is even more lackluster than before, why is the labor market still going gangbusters?" When economic growth slows, payroll growth slows down along with it, which results in unemployment growing. However if the economic growth is high, employment follows along with it. This past year, the slumping housing market has steadily been declining in economic growth, the labor market has hardly budged; the unemployment rate has been falling. Due to the employment report, ......

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