Unemployment rate drops to 6.3%
The Bureau of Labor Statistics (BLS) reported that the unemployment rate dropped to 6.3% during the month of April.
This represents a four percentage point drop from March’s unemployment rate of 6.7%.
It is also the lowest the unemployment rate has been since the 2009 economic recession. There were 288,000 jobs added to the economy, which brings the total number of jobs added to approximately 9.2 million.
According to the BLS, the job sectors with the highest number of jobs added were professional and business services (75,000), retail trade (35,000), food services and drinking places (33,000), and construction (32,000).
Some of the other data that the BLS included were long-term unemployment, civilian labor force, labor force participation rate, and employment-population ratio.
The BLS reported that those who were unemployed for longer periods of time decreased, over the year, by 908,000.
The civilian labor force had a net decrease of 303,000 between the months of March and April.
The BLS noted that although the labor force participation rate dropped from 63.2% to 62.8% that from October 2013 to April 2014 the labor force participation rate has remained fairly same.
The agency also reported that over the year the employment-population ratio remained fairly the same at 58.9%.
This represents a four percentage point drop from March’s unemployment rate of 6.7%.
It is also the lowest the unemployment rate has been since the 2009 economic recession. There were 288,000 jobs added to the economy, which brings the total number of jobs added to approximately 9.2 million.
According to the BLS, the job sectors with the highest number of jobs added were professional and business services (75,000), retail trade (35,000), food services and drinking places (33,000), and construction (32,000).
Some of the other data that the BLS included were long-term unemployment, civilian labor force, labor force participation rate, and employment-population ratio.
The BLS reported that those who were unemployed for longer periods of time decreased, over the year, by 908,000.
The civilian labor force had a net decrease of 303,000 between the months of March and April.
The BLS noted that although the labor force participation rate dropped from 63.2% to 62.8% that from October 2013 to April 2014 the labor force participation rate has remained fairly same.
The agency also reported that over the year the employment-population ratio remained fairly the same at 58.9%.
comments powered by Disqus