Friday, June 4, 2010

Statement from Bart van Ark, Chief Economist of The Conference Board on Today's Jobs Report from The U.S. Labor Department

/PRNewswire/ -- Jobs report is disappointing

While today's jobs report shows gains, it's a significant setback following four consecutive months of accelerating growth. The private sector added only 41,000 jobs, as May's employment increase was driven by temporary Census hiring. Continued slower growth would mean we've passed an unprecedented early peak in the rate of employment growth following a recession, which wouldn't be good news for the recovery's strength. Manufacturing jobs gains are at best tepid, and a lack of significant growth in construction, financial services, and information show several sectors aren't yet on the recovery path.

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