April Employment Outlook Little Changed
April’s unemployment rate remained unchanged at 4.7% and the month generally saw slight increases in several industries, according to the U.S. Bureau of Labor Statistics. Total nonfarm payroll employment increased by 138,000 to a seasonally adjusted number of 135.1 million.
Gains occurred in the financial services industry, which added 26,000 jobs during the month of April, including 10,000 in the insurance sector and 9,000 in credit intermediation. Overall, employment in financial services has risen by 213,000 during 2006.
The healthcare industry also witnessed gains, with 9,000 jobs added in residential care facilities, 7,000 jobs gained in hospitals and 6,000 new jobs in doctors’ offices. Overall, the industry gained 23,000 jobs.
In professional/business services, computer systems design added 6,000 jobs, as did management and consulting services. The temporary help services sector added no new jobs and has remained flat throughout 2006.
Most notable among industries posting job losses was the retail industry, which lost 36,000 jobs in April, including 34,000 fewer jobs in general merchandise stores.