The U.S. Department of Labor’s Bureau of Labor Statistics (BLS) released the U.S. Employment Situation Report for March 2012 on Friday, April 4 showing a second consecutive month of disappointing new job growth. Although new job growth had been making good progress between late autumn 2011 and into the winter of 2012, the numbers began to slide beginning with the February numbers. However, many economists are saying that unusually warm winter weather pulled forward construction and manufacturing activity to January and February resulting in reduced new job growth from the spring.
In general, non-farm employment increased by 115,000 in April with the unemployment rate slightly decreased to 8.1% from 8.2% the previous month. This is particularly disappointing in that between December and February, new jobs rose by an average of 252,000 a month. Beginning from the March Employment Situation Report, however, the numbers began to slide but were still over 200,000.
Professional and business services were the leaders in new job growth with the addition of 62,000 jobs. Education and health services added 23,000; retail, 29,000, and Manufacturing, 16,000. On the opposite side, Transportation and Warehousing cut 17,000 jobs and governments reduced their numbers by 15,000, including 12,000 by local governments.
Please refer to Employment Situation Summary – Tables A & B for additional detail. 05.07.2012