Posted on May 12th, 2021
The US economy witnessed payrolls expansion in April, with companies adding up 266,000 jobs. Nevertheless, that number is far below the expectations of analysts. The employment and economy researchers anticipated more than 1 million jobs for the period. The Bureau of Labor Statistics (BLS) stated that although there were significant job additions in a few sectors, they were lowered partly by decreases in other sectors.
Besides, revised statistics from the BLS for February and March showcase that those 2 months in combination saw 78,000 lesser jobs than stated earlier. Considering these adjustments, the U.S. market has noticed employment growth by only over 1.8 million posts since the beginning of 2021.
Employment in leisure and hospitality rose considerably the previous month, with businesses in this sector adding up 331,000 vacancies. The BLS says that the continual relieving of pandemic-related constraints in several parts of the nation impacted these increases.
The following sectors even noticed employment increment in April, as per the BLS:
Government: added 48,000 jobs
Other services: added 44,000 jobs
Financial activities: added 19,000 jobs
Healthcare and social assistance: added 18,500 jobs
Wholesale trade: added 7,800 jobs
At the same time, many sectors noticed significant payroll reduction the previous month, including business and professional services, transportation and warehousing, retail trade and manufacturing.
In April, the country’s unemployment rate was 6.1% while it was 6.0% in March.
The unemployment rate for college-degreed workers was 3.5% last month, down from 3.7% in March. These people are the highly demanded job candidates as of now.
You can receive more updates regarding present hiring trends across the US and even get recruitment updates from W3Global. We give the latest data on open positions and hiring trends across all industries. Visit our blog to get all the recruitment related news and insights.
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