News that doesn't receive the necessary attention.

Saturday, May 9, 2015

March 2015 jobs revised down 30% to 85,000. April 2015 full time workers drop, part time workers jump more than 400,000, half million more than a year ago-AP

5/8/15, "US economy rebounding with solid if unspectacular job gains," AP, Christopher S. Rugaber 
.
"In its report Friday, the government revised sharply down its estimate of March's job gain to 85,000 from 126,000. In the past three months, employers have added 191,000 positions, a decent total but well below last year's average of 260,000.... 

The number of full-time workers, for example, fell in April while the number of part-timers jumped more than 400,000 to 27.7 million- a half-million more than a year ago.

The increase came from Americans who said they preferred part-time work, the report said. The number of part-timers who want full-time jobs declined 100,000 to 6.6 million. That's still above pre-recession levels.

The nation's job growth still isn't raising worker pay much. Average hourly wages rose just 3 cents in April to $24.87. Wages have risen only 2.2 percent over the past 12 months, roughly the same sluggish pace of the past six years....
The chronically sluggish pay growth and the downward revision to March's job gain may dissuade the Fed from raising rates in June or even by fall....
 
Some higher-paying industries, especially those affected by lower energy prices or the higher dollar, are reporting losses. Mining, which includes oil and gas, cut 15,000 jobs in April. The industry has eliminated 49,000 jobs this year, more than offsetting the 41,000 it added in 2014.
 
Manufacturers added only 1,000 jobs last month after a flat reading in March. That's down from the industry's average monthly job gain of 18,000 last year....
  
Construction companies, though, picked up much of the slack by adding 45,000 jobs, the most in 16 months. That is a sign that cold weather had held back building projects in March, when the construction industry cut 9,000 jobs."
 
 
 
 
 
.

No comments:

Followers

Blog Archive

About Me

My photo
I'm the daughter of an Eagle Scout (fan of the Brooklyn Dodgers and Mets) and a Beauty Queen.