Source: BLS jobs report
The United States generated 288,000 jobs in April, making it the 50th straight month of positive job creation. These figures surpassed many of the expert predictions, as most anticipated 190,000 to 210,000 would be added. The unemployment rate fell 0.4 percent to 6.3 percent — the lowest it has been since 2008 — but was offset by a significant drop in the labor participation rate.
In March, job growth had revealed a milestone in the U.S. economy. Private sector jobs had recouped 8.9 million jobs since February 2010. This exceeded the employment figures of December 2007, which were the pre-recession peak levels. In April, the private sector contributed 273,000 new jobs, while government employment rose by 15,000.
Employment gains were widespread across sectors and were led by professional and business services, retail, food services and construction. Here are some key sector highlights from the BLS “The Employment Situation – April 2014” report.
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