Friday, June 7, 2013

Strongest employment growth is temporary help agencies

Unemployment in May ticked up to 7.6 percent as employers added 175,000 jobs, a tepid report that may cheer investors hoping for interest rates to stay low, boosting stocks.

Economists including JJ Kinahan, chief derivatives strategist of TDAmeritrade, had expected the addition of 167,000 jobs with the unemployment rate unchanged at 7.5 percent.

The industries with the strongest employment growth in the last month were temporary help agencies, which added 26,000 jobs; and food services, which added 38,000 jobs in May and 337,000 over the past year.

...The Labor Department revised the number of jobs added in April lower to 149,000 from 165,000. March's number was revised higher to 142,000 from 138,000. Read more >>
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