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Posts Tagged ‘employment’
The U.S. Bureau of Labor Statistics reported today that employers added 120,000 jobs in March. The jobs number is lower than anticipated compared to an average increase of 246,000 the past three months. However, the unemployment rate dropped to 8.2%. Additionally, employment for January and February was revised upward by 4,000 additional jobs.
The unemployment rate averaged 8.9 percent last year, down from 9.6 percent the previous year. Regarding government employment, the Bureau of Labor Statistics reports that “ government employment was essentially unchanged” in March. Over the past 12 months, the sector has lost 277,000 jobs, with declines in local government; state government, excluding education; and the U.S. Postal Service.
The job market was retracting heavily during the depths of the recession in 2008 and early 2009 with job losses of over 750,000 several months. Over 4 million jobs have been created over the last 25 months.
This is the seventh month in a row in which the economy generated 100,000 jobs or more. 125,000 are needed each month to keep up with growth in the potential labor force.
The U.S. Bureau of Labor Statistics reported Friday (January 6) that employers added 200,000 jobs in December with the unemployment rate dropping to 8.5%. That’s 50,000 more jobs than economists expected. The unemployment rate averaged 8.9 percent last year, down from 9.6 percent the previous year. November’s unemployment rate had dropped to 8.6 % from a 2011 high of 9.2%. Job gains occurred in retail, health care, transportation, warehousing, mining and manufacturing.
Economists estimate that employers will add about 2.1 million jobs in 2012. That compares to 1.6 million in 2011 and 940,000 in 2010. 125,000 are needed each month just to keep up with the growth in the potential labor force. The economy typically needs to add 125,000 jobs each month just to keep up with population growth. Government employment changed little in December but was down by 280,000 in 2011.
The hiring gains cap a six-month period in which the economy generated 100,000 jobs or more each month. That hasn’t happened since April 2006.