Hiring Slows Down Dramatically
In March, hiring slowed down since it is reported last Friday by the Labor Department that employers just added about 120,000 jobs.
For the first 13 months of President Obama, the US has already lost about 4.3 million jobs. Hiring slowed down drastically from the February 240,000 jobs.
Christine Owens (National Employment Law Project’s executive director) stated that the job growth was divided by half from the previous month, which is very discouraging. These 120,000 jobs is definitely not a major improvement but it is just enough to sustain with the population growth, he added.
Economists stated that unseasonably warm winter can be a part of the slowing down of hiring but then again, seasonal adjustments has nothing to do with the slowdown in hiring.
The most hit industry was the retail industry since there were about 33,800 jobs lost on department stores. On the other hand, there are about 26,000jobs added by health care, 31,000 added by professional services, and 37,000 added by manufacturers. There are about 36,900 people hired by bars and restaurants.
Jobs losses in the public sector, there are about 1000 jobs lost in March. Luckily, for two years now, private businesses have been added about 121,000 jobs.
In general, up to the present, the job market is still not doing well especially because of the financial crisis. There were about 8.8 million jobs lost and the amount of the ones that were added by is only 3.6 million. Unemployed Americans are about 12.7 million. And about 42.5% of this individuals have been unemployed for the past six months or even more.