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US Employment Up in April 2011

The employment rate in the United States rose in April more than expected.

The official figures have shown that for the 7th month in a row, US unemployed have found work and last month, in April, the number of newly created places of work has risen up to 244,000 which it was more the economists have forecast. At the same time, the unemployment rate has risen as well, with 0.2 %, from 8.8% to 9%. The number of the US citizens that are currently out of work is 13.7 million.

The US Department of Labor reported these figures a few days ago. It may look strange that even though new jobs have been created, the number of people who don’t have jobs has gone up. But the two have different methods upon which they are calculated. While visiting a factory in Indianapolis, Indiana President Obama stated that it is his belief that the economy is making progress. “That proves how resilient the American economy is, how resilient the American worker is” he added.

When the financial crisis hit the US, 8 millions of people lost their jobs. Now, even if we are not talking about a big growth in the economy sector, we still have to say that the average earning per hour of work has risen with 3 cents, which means a 0.1 percent. The current hourly earning is 22.95 dollars.

In addition, a large number of sectors have created new jobs that are expecting the workers. The retail trade sector added 57,000 jobs and the business area has now 51,000 new jobs. The healthcare sector is looking for 37,000 more employees. Leisure and hospitality created 46,000 more job and the places of work in manufacturing rose by 29,000.

There are sectors that over less jobs, though. For example the public sector has 24,000 less jobs available.

Overall, experts believe it is a good report. “We're getting close to the point where we are seeing sustainable job growth” said Gary Thayer, Wells Fargo Advisors an added that “the stock market likes the numbers, but the report also moves us maybe a step closer to the Fed pulling back on stimulus”.

More economy experts sustain the idea that it is a little step in the growth of the economy and the perspective is a good one. US is getting back in its feet, slowly but surely.