Unemployment Rates Are the Lowest Since 2008, But There Is a Kicker

The economy is on the rise and the evidence is clear within the job market.  In April of this year, U.S. employers added 288,000 jobs, the most in over two years.

The winter may have been cold and slow, but the job market seems to be picking up just in time for the warm weather.

According to The U.S. Department of Labor, the unemployment rate has dropped from 6.7 to 6.3 percent since March—the lowest percentage since September 2008.

The drop has occurred not only because people are getting placed in full-time jobs, but in actuality, many people have stopped looking for work.  And people who are not looking for work are not counted as unemployed.

Hard to believe?

Patrick O'Keefe, director of economic research at the accounting and consulting firm CohnReznick, said he was surprised by the 806,000 drop in the number of Americans either with a job or seeking one.

But while people have stopped looking for jobs, the job market is growing, and at a faster rate than in previous years since the recession began.

Last month, hiring in specific markets included higher numbers and higher-paying positions: Manufacturing gained 12,000 workers, while construction gained 32,000.

Professional and technical services—which include accounting and engineering positions—added 25,100 jobs, and government jobs grew by 15,000, mostly at the local level.

Read the full and original article here:

More News:

  • Patent Dispute Settled Between Rockwell Automation and Beckhoff Automation

    Rockwell Automation's linear motor business, including its recent Jacobs Automation acquisition, has developed a substantial portfolio of patents comprising over 100 issued patents on linear motor technology alone.

  • Mergers, Acquisitions Alliances and Noteworthy News in Robotics

    Iten Industries, manufacturer of advanced composite components and materials headquartered in Ashtabula, Ohio, is now offering additive manufacturing and 3D printing services.

  • U.S. Economy Looks Up for Manufacturing Industries

    The August PMI is led by the highest recorded New Orders Index since April 2004, when it registered 67.1%.

  • ASME Forum Ignites 21st-Century Engineering

    Founder and president of HMI/SCADA software developer Iconics, Russ Agrusa, said the company is focusing on how to harness big data on any device and in any class of applications, and turn it into predictive analytics in manufacturing and business intelligence.

  • New Customer Care Center for Endress+Hauser

    To help customers keep up with today's challenges, Endress+Hauser's new, state-of-the-art Customer Center is suited to greet visitors with a top-notch certified training facility with multiple classrooms and its largest yet PTU controlled by Rockwell Automation's PlantPAx system for real-world process simulation with over 120 measuring points.

  • The Rise of Aluminum in the Industrial Sector

    It is not just price that makes aluminum appealing when put alongside copper in the production of items like electrical wires and cables, though.

  • Maverick Acquires CQS Innovation Expanding Process Expertise in the Life Sciences Industry

    The acquisition expands Maverick's size and scale as a global organization with 19 office locations and 500+ engineering professionals. In addition, Chris Roerig, current president of CQS Innovation, will join Maverick as industry manager for life sciences.

  • ISA Offers Cybersecurity Certificate Program

    The program consists of passing a course on using the ANSI/ISA-62443 standards to secure industrial control systems. The course is available in the classroom or online. Students must also pass a written exam in the classroom or online.

  • Fieldbus Groups 'Unite'

    The combined power of both organizations will aim to protect the investments that end users in process automation have made in HART and Foundation fieldbus communication technologies.

  • Guess Who Just Turned 125 Years Old?

    ABB recently celebrated its 125th anniversary in Finland.

All news »

What are your comments?

Join the discussion today. Login Here.

Comments

No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments