The jobs numbers are finally out, and the results are positive. According to the U.S. Bureau of Labor Statistics, the U.S. economy gained 223,000 new jobs in April.

Even better news is the unemployment rate, which came in at 5.4 percent for the month, down 0.8 percent on a yearly basis. Overall, these changes represent a strong trend in the right direction for the labor market and the economy as a whole, which has a number of experts – and businesses – excited for the future.

What’s happened on the job front
In addition to the 223,000 new jobs and the 5.4 percent unemployment rate, the BLS highlighted a few other trends related to the labor market.

“Economic numbers are a sign of a stronger economy.”

One was the number of unemployed persons in the U.S., which totaled 8.5 million in April. That is down 1.1 million from the same time in 2014. Furthermore, the number of short-term unemployed – those out of work for less than five weeks – increased slightly this April, while the number of long-term unemployed – those out of work for more than 27 weeks – decreased by 888,000 over the last 12 months.

Another key trend is the decline in involuntary part-time workers, or those who would prefer full-time employment but couldn’t find any for economic reasons. From April 2014 to this year, the number of these workers declined by 880,000, according to the BLS.

What does this all mean?
On the surface, these trends are good news for the economy and the labor market. But what else does it mean?

Mark Luschini, a chief investment strategist for Janney Capital Management, told The Washington Post that these numbers signal strengthening momentum in the economy and that the down winter was an anomaly, not the new normal.

In a news release, U.S. Secretary of Labor Thomas Perez pointed out a few larger trends with the labor market. One is that the new jobless rate – of 5.4 percent – is the lowest since May 2008. He also pointed out the areas where job growth has been the strongest: construction, professional and business services, as well as education and health services. These sectors typically employ a high number of middle-class workers.

All in all, this recent economic news is good for nearly everyone involved, from workers to the government and local businesses.

Juggling tax rates and difficult employees can become challenging at your company. Here at Corporate Cost Control, we understand these problems and are well-positioned to help. Our extensive background in cost control and human resources will allow you to better manage your unemployment insurance expenses.


Contact CCC to see how we can save your organization time and money.
Contact our Sales Team
(800) 207-6926

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