Private sector hiring doesn’t perform as well as hoped

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On May 4th, the BLS released its most recent “The Employment Situation” report, which revealed that, for the second consecutive month, private sector hiring was not nearly as extensive in April as it was in January and February. According to the report, month-to-month hiring continued to drop in sectors such the federal government, while many other industries, such as accounting and finance, reported very minute increases in hiring.

Still, the report showed positive elements as several industries, including the following, recorded considerable hiring advancements last month.

  • Healthcare: Overall, 19,000 healthcare jobs were created in April, the lowest total that has been documented thus far in 2012. Nevertheless, hiring was quite pertinent within the ambulatory healthcare services sector, which generated 15,400 new jobs.
  • Leisure and Hospitality: Last month, the industry added 12,000 new jobs to the economy. More than 13.6 million professionals were employed within the sector, as of April 30th.
  • Manufacturing: 16,000 professionals were hired in the sector with fabricated metal products and machinery positions continuing to be plentiful, as evidenced by last month’s report, which found that each sector added 6,000 and 5,000 new jobs to the economy, respectively.
  • Professional and Business Services: Hiring within the professional and business services industry doubled in April, when compared to March’s employment data. As a whole, hiring augmented by 62,000 last month; it has risen by nearly 1.5 million since September 2009.
  • Retail Trade: Many economists were surprised to see employment uptick last month in the sector, rising just over 29,000 jobs, the largest increase of 2012.

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