Report | United States Employment Update - April 2013
The U.S. economy added just 88,000 new jobs in March, the lowest monthly growth since June 2012 and well below February’s strong showing. However, unemployment continued its slow decline, falling by 10 basis points to a recovery low of 7.6 percent. Office-using industries continue to outperform the total employment, growing at 2.3 percent year-on-year, while tech remains the strongest national industry. Other bright spots include healthcare and leisure and hospitality, but contractions in retail trade and government as well as a slowdown in growth across sectors lowered subsector employment gains. As the national economy continues its transition during 2013, we expect a more stable monthly employment situation to take hold in line with newfound growth in the office market from Q1 2013.
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