Overall, the economy has shed 324,000 jobs this year, the worst start to a year since 2002, when the nation was still struggling with the aftereffects of a recession.
The 5.5 percent rate is relatively moderate judged by historical standards. Yet, there was no question that employers last month sharply cut jobs with total job losses this year in:
- Professional and businesses services - 39,000
- Construction - 34,000
- Retailing - 27,000
- Manufacturing - 26,000
Part of that business and professional services decline came from a 30,000 cut in temporary jobs, bringing losses in that sector to 106,000 so far this year.
Those losses swamped gains elsewhere this month, including in:
- Education
- Health
- Government
- Leisure and Hospitality
Job losses in both March and April turned out to be larger than the government previously reported. Employers now have cut payrolls for five straight months.
Employers won’t want to increase hiring until they feel more sure that an economic recovery has strong legs.
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