US employers added jobs in April
Category: News and Notes- fhuff- 12:03 pm/ May 6, 2011U.S. employers added jobs in April, according to the U.S. Department of Labor. Gains in employment were spread across various industries, with nonfarm payroll employment adding 244,000 jobs and the private sector adding 268,000.
Secretary of Labor Hilda L. Solis said in a statement:
April’s broad-based job gains were the largest we have seen in 11 months. Our economy has now seen private sector job gains for 14 months running. During this period, we have added 2.1 million private sector jobs, including 760,000 in the last three months alone. We have crossed an important threshold by creating more than enough jobs in each of the last three months to outpace growth in the labor force and put unemployed Americans back to work.
Despite the gains, the overall unemployment rate rose slightly to 9 percent from 8.8 percent.
Unemployment among teenagers is at a high 25 percent. That means many teens who could earn money and begin a savings won’t have the means to open a savings account. Teens not having an income could also be a drain on parents’ income and savings if they were relying on their kids finding a job.
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