Current Event – Article Example
May Jobs Report: Cautious Hiring Continues May Jobs Report: Cautious Hiring Continues The job related news was posted by Annalyn Kurtz on June 7, 2013 on the CNN Money. According to the analysis, the United States’ economy has added about 175,000 jobs as per the statistics of May (Kurtz, 2013). This is a slight improvement from previous months; however, it has been noted that the rate still falls below the average anticipated growth that was set about three years ago. Moreover, according to Jennifer Lee, a senior economist at BMO Capital markets, the United States’ labor market is still recovering and the May’s report can be considered decent but not fabulous. Comparing the number of persons employed in May to that were employed in March and April, the report indicate that there is an economic growth of about 12,000 jobs for the month May.
Despite being recorded as a small growth in the economy, the figures registered for May were above what had been expected by investors. Additional, the report suggests that due to the May growth, the morning stock traded or headed higher (Kurtz, 2013). Nonetheless, it should be noted that unemployment rate jumped from 7.5 in April to 7.6 percent May a change that was registered as 420,000 persons joined the labor force. This improvement in the employed encouraged workers to re-start job searches. However, many businesses are still concerned with the cost associated with health care reform rules that are set to be effective as from next year (Kurtz, 2013). Notably, the effects associated with these anticipated rules are keeping business at the edge thereby affecting job creation. Finally, according to the report, the job growth as indicated by the May statistics, is unlikely to change the current stimulus policies of the Federal Reserve’s and the central bank is seeking for substantial improvement if at all the policies need to be changed.
Kurtz, A. (2013). CNN Money; a service of CNN, Fortune & Money. May jobs report: Cautious hiring continues. Retrieve June 9, 2013, from http://money.cnn.com/2013/06/07/news/economy/may-jobs-report/index.html?iid=Lead