Unemployment Rate Up to 9.9 Percent despite Strong Jobs Creation in April
Unemployment rate in the United States rose to 9.9 percent despite strong output in jobs creation in April. According to the data released by the Labor Department, some 290, 000 new workers were hired with the help of the private companies and the government.
Many of the analysts said that the spike in the unemployment rate is natural as people go back to job searching.
At least 290, 000 workers were hired in April as private employers gain grounds in its efforts to create new jobs, the most in over four years. However, the United States unemployment rate continued to spike up to 9.9 percent as jobless Americans streamed back into the market in search for new work.
Based on the survey conducted by the US Labor Department, some 231, 000 new positions were made available by private firms helping jobless people back into payroll.
The data, which was released on Friday, also showed that government-backed companies also managed to hire some 66, 000 temporary workers in a bid to boost US employment gains.
“It is a sign that companies are now more confident about the future of the market. With the economic recovery full steam ahead, we are expecting more businesses to do their part,” Naroff Economic Advisors President Joel Naroff said.
“The expansion of their payrolls and workforces are only few of the main indications that businesses are more comfortable with the market condition,” Naroff added.
Meanwhile, unemployment rates spiked up to 9.9 percent in April from 9.7 percent in March as more that 805, 000 jobless people resumed their search for new jobs.
But many economists said that they were not surprised about the turn out of the jobless rate, saying that the rise in unemployment only shows that people are coming back from the “long vacation” after being laid off during the recession.
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