Private sector hiring exceeds economists’ projections

Share:

Since July, private sector hiring has been quite extensive within the United States, as a majority of sectors have reported a rise in employment. Regardless of such trends, many economists were unsure whether or not private sector hiring would continue to be as wide-ranging in November, after Superstorm Sandy struck the coast of the Mid-Atlantic and Northeastern United States in late October.

Despite economists’ concerns, 147,000 private sector jobs were generated last month, according to the BLS’ latest “The Employment Situation” report, signifying that hiring remains robust, as economic recovery continues.

The report revealed that employment rose in the following sectors last month. 

  • Healthcare: Nearly 14.5 million healthcare professionals were employed in November, as sector hiring rose by 20,000. A majority of these positions were filled by hospitals and nursing care facilities.
  • Information: Sector hiring rebounded in November after recent months of job losses. 2.6 million professionals were employed last month, an increase of 12,000, when compared to October’s figures.
  • Leisure and Hospitality: As many economists projected, sector hiring continued to rise last month, as 23,000 professionals were added to payrolls. Since November 2011, the sector has generated 25,400 new jobs per month, on average.
  • Professional and Business Services: 43,000 professionals were hired within the sector in November, as hiring rose for the sixth consecutive month. In all, 18.1 million professionals were employed in November.
  • Retail Trade: Since September, sector hiring has expanded by 140,000. Approximately 38 percent of these positions were filled last month, as the sector added 52,600 new jobs to the national economy.
  • Temporary Help Services: As a sign of increasing business confidence, the sector generated 18,000 new jobs in November, as 2.6 million professionals were employed within the sector. Since November 2011, employment has risen by roughly 183,000.

Speak Your Mind

// contently