Atlanta, GA (PRWEB) May 28, 2016
The Economic Situation report released by the Bureau of Labor Statistics on Friday, May 6, 2016, revealed a growth of 160,000 jobs for the month of April, a decrease of 23 percent or 48,000 over March’s gain of 208,000 jobs.
Unemployment for the month remained at 5.0 percent, or 7.9 million unemployed persons. Over the year, the unemployment rate and the number of unemployed persons has decreased by 0.4 percentage point and 603,000, respectively. Last month, employment gains largely occurred in professional and business services, health care, and financial activities. Job losses continued in mining
Professional and business services added 65,000 jobs last month with gains primarily occurring in management and technical consulting (21,000) and computer systems design and related services (7,000). Over the past year, the industry has gained an average of 51,000 jobs per month.
The health care industry added 44,000 jobs in April with the majority of employment occurring in hospitals (23,000) and ambulatory health care services (19,000). Over the past 12 month, health care has gained 502,000 jobs.
Financial services gained 20,000 jobs, largely due to credit intermediation and related activities accounting for 40 percent of growth, or 8,000 jobs. Insurance carriers and related activities gained 5,000 jobs. Over the last 12 months, financial activities has added 160,000 jobs.
Mining continued to decline in April, losing 7,000 jobs. Employment gains in mining reached a peak in September 2014, and has since declined by 191,000 jobs.
Total nonfarm payroll employment for February and March was revised from 245,000 to 233,000 jobs, and 215,000 to 208,000 jobs, respectively. With these revisions, employment gains for both months combined were 19,000 less than previously reported.
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