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Regional employment and consumer sentiment rose in May

Prior to the release of Asia Pacific’s latest economic figures, many global economists projected slow economic growth for the region last month, citing April’s 8.6-magnitude Indonesian earthquake, Europe’s monetary woes, and the United States’ slow economic recovery as primary causes.

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Sector changes in May

Private sector hiring was a bit disappointing last month, as only half of the nation’s 10 major industry groups reported employment increases. In all, the construction, government, information, leisure and hospitality, and professional and business services industries recorded job losses in May.

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Economic recovery remains sluggish

Ever since the worldwide economic recession drew to a close in 2008, a series of untimely events have repeatedly shaken Asia Pacific’s financial infrastructure.

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Year-to-Year Joblessness Continued to Fall Within a Majority of Metropolitan Areas

According to the BLS’ most recently published “Metropolitan Area Employment and Unemployment” report, which was released on May 2nd, joblessness continued to decease within a majority of the United States’ metropolitan areas in March.