only 98,000 new jobs were created in march, labor department says
In each of the first two months of this year, the United States has added more than 200,000 jobs. S.
According to the monthly report released by the Bureau of Labor Statistics on Friday, the economy added only 98,000 jobs in the third quarter.
The result did not meet expectations: although analysts expect new jobs to fall slightly to about 180,000, they have been looking for signs that job growth will sync with recent growth.
The unemployment rate fell to 4.
5% from 4.
The Labor Department said 7%.
This is the lowest level since May 2007.
In addition to the January data, the CRA also stripped nearly 40,000 jobs from previous estimates for February and revised the results of these months from 238,000 in January to 216,000, 235,000 in February was revised to 219,000.
\"Employment growth in the professional and commercial services sector over the past month (+56,000)and in mining (+11,000)
While the retail industry lost its jobs-30,000)Bureau of Labor Statistics said.
The agency added that the health care sector maintained a positive trend, adding 14,000 jobs in the third quarter.
During the first three months of 2017, \"health care increased by an average of 20,000 jobs per month, compared with an average of 32,000 jobs per month in 2016,\" said the IEA.
\"One trend in the report is clear: Retail is in trouble.
Since last October, the industry has lost 30,000 jobs and reduced 89,000 jobs.
This is a very terrible situation for brick. and-
Physical retailers facing relentless pressure from Amazon;
Traffic slows in shopping centers;
There are too many shops in many parts of the country.
Retailers are cutting jobs due to the bleak future;
They are integrating to survive.
Look at the recent records.
Payless filed for bankruptcy protection this week and announced the closure of 400 stores. J. C.
Penney closes at 138 locations.
Macy\'s is closing 15% of its department stores.
Last month Sears warned that there was a \"big doubt\" about whether it could survive \".
This week Ralph Lauren announced that it would close its flagship store on Fifth Avenue in New York.
These are not accidental or unrelated events.
At a earnings call last month, Richard Hayne of the city decoration company said that the retail building boom at 1990 and the beginning of 2000 \"created a bubble, like\" The U. S.
Hayne says retail capacity per capita is now more than six times that of Europe or Japan.
So it is certain that retail employment will not pick up soon.
There are still some questions that have not been answered: How important is retail for the US labor and economic recovery?
Retail jobs are usually not very well paid.
The average wage for retail sales in 2016 was $22,680.
But retail sales and retail cashiers are the two most common jobs in the country.
It is estimated that they employ more than 8 million Americans in total.
The average hourly income of private non-farm workers has recently continued to rise, rising 5 cents to $26. 14.
Next is 7-
A few per cent increase was made in February. For private-
The average hourly wage for department production workers and employees who are not in charge has risen to $21. 90 —a 4-cent gain.