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Unemployment in the US falls to a four-year low of 7.5%

Monday, May 6th 2013 - 07:22 UTC
Full article 20 comments
Services was the sector which most jobs created during April Services was the sector which most jobs created during April

The US economy showed last month why it remains the envy of industrialized nations: in the face of tax increases and federal spending cuts, employers added a solid 165,000 jobs in April, and the unemployment rate dropped to a four-year low of 7.5%.

The job growth in April — and far more jobs added in February and March than anyone thought — sent a reassuring sign that the US job market is improving. Coming after a poor jobs report for March, the figures the government issued last Friday helped ease fears that hiring might be slumping for a fourth straight year.

The Labour Department revised up its estimate of job gains in February and March by a combined 114,000. It says employers added 332,000 jobs in February and 138,000 in March. The economy has created an average of 208,000 jobs a month November through April, above the 138,000 added in the previous six months.

The unemployment rate has fallen 0.4 percentage point since the start of the year, though it remains high. The Federal Reserve has said it plans to keep short-term interest rates at record lows at least until unemployment falls to 6.5%.

The hiring last month was concentrated in services. Construction employment fell for the first time since May and manufacturing payrolls were flat. Some higher-paying sectors added workers. Professional and technical services, which include accounting, engineering and architecture, added 23,000 jobs. Education and health services added 44,000. But the biggest job gains were in lower-paying fields, such as hotels and restaurants, which added 45,000 jobs, and retail, which added 29,000.
 

Categories: Economy, Politics, United States.

Top Comments

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  • Anglotino

    “The US economy showed last month why it remains the envy of industrialized nations”

    I would say MANY industrial nations but not all. While it is a great figure and I am glad unemployment is dropping, I can't say my country is envious considering our unemployment is currently 5.5% and the last time it was 7.5% was in December 1998.

    That is almost 15 years now with unemployment below this supposedly envious figure. And we've managed to increase our population by 20% since then too.

    Congratulations America, happy but not envious.

    May 06th, 2013 - 09:36 am 0
  • DanyBerger

    Now lets see how the media and US govt lies and cook the books.

    Honestly not even US flag wavers here can believe that, because what they are reporting is U3 unemployment and not the total official cooked figure.

    What is an unemployed? A person that is in condition to work but its out of work for many reasons.

    So a person that is homeless and is discouraged to find a job or its impossible for him to find a job is no unemployed any more magically?

    Of course not but they are not counted in the “Official” unemployment figures they just magically disappear with the time like in a black hole.

    But what tell as the cooked figures of US BLS statistics U6?
    That always the real unemployment figures are the double of what the “Official cooked figures” say.

    Current U6 (Total unemployment)= 13.9%
    http://www.bls.gov/news.release/empsit.t15.htm

    http://www.bls.gov/news.release/empsit.t15.htm

    http://www.bls.gov/news.release/empsit.t15.htm

    Cooking the books? Who????

    May 06th, 2013 - 12:46 pm 0
  • Captain Poppy

    How many categories does ANY SA country use to count unemployed?

    Think of it as having something to lay an egg over.

    U-1 Persons unemployed 15 weeks or longer, as a percent of the civilian labor force

    U-2 Job losers and persons who completed temporary jobs, as a percent of the civilian labor force

    U-3 Total unemployed, as a percent of the civilian labor force (official unemployment rate)

    U-4 Total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers

    U-5 Total unemployed, plus discouraged workers, plus all other persons marginally attached to the labor force, as a percent of the civilian labor force plus all persons marginally attached to the labor force

    U-6 Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force

    Do us a favor dumburger.......before you lay some cheese on yourself.....do a U-6 analysis for the past 15 years.

    May 06th, 2013 - 02:54 pm 0
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