May 4, 2012
The Bureau of Labor Statistics has just released more favorable trends in the unemployment statistics. The Bureau reported the unemployment rate now sits at 8.1%, a 0.8% drop over the April 2011 unemployment figure. It was estimated that 115,000 more jobs were added in April 2012.
Unemployment Statistics – Sectors
The increase in jobs follows the trend of job increases month after month through 2011 and 2012. However, the trend shows declining number of new jobs over the past 3 to 4 months. This might be a sign of employment catching up with the recent slight bump in economic recovery. Slow and steady. It could also be a sign of a shrinking labor pool that may exist in certain US business sectors.
The lowest unemployment statistics for April 2012 occurred in the government, education and health services, and financial sectors (3.7, 4.8, and 5.5% respectively), while the small business and entrepreneurial sectors of construction, agriculture, leisure, and business services show the higher rates of unemployment. Recent statistics have shown that those sectors might be experiencing slow recovery mode.
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