U.S. employers recently hiked their hiring to the fastest monthly pace in almost six years, a healthy sign for the U.S. labor market, according to government data released Tuesday morning.
There were 4.71 million hires in April — the most since June 2008 – and up 6% from a year earlier and, according to the U.S. Labor Department’s most recent monthly look at labor-market churn. When the recession started at the end of 2007, there were about 5.04 million hires per month.
Tuesday’s data followed a promising labor-market report last week showing that the economy’s jobs growth this year has been faster than a year earlier.
Chosen excerpts by Job Market Monitor. Read the whole story at Hiring hits fastest pace in almost 6 years – Economic Report – MarketWatch.
Furthermore, it is an utterly meaningless benchmark economically. Because the working-age population and with it, the potential labor force is growing all the time, we should have added millions of jobs over the last six-plus years just to hold steady. That means that when we get back to the prerecession employment level, there will still be a … Continue reading
It is possible that 2014 will be the best year since 1999 for both total nonfarm and private sector employment. Also employment has reached another milestone: total employment is now 98,000 above the previous peak, and and at a new all time high in May. Of course the labor force has continued to increase over … Continue reading
May US Job Report – Employment rose by 217,000, returning employment to its pre-recession level, and UR unchanged
Total nonfarm payroll employment rose by 217,000 in May, and the unemployment rate was unchanged at 6.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services, health care and social assistance, food services and drinking places, and transportation and warehousing. Household Survey Data The unemployment rate held at … Continue reading