Good News on Jobs

WASHINGTON (CN) – The private sector workforce grew in the 2nd quarter of 2010 for the first time since the recession began in 2007, the Bureau of Labor Statistics said.




      The net gain of 758,000 jobs – the largest quarterly increase since March 2006 – was calculated by subtracting gross job losses of 6.2 million from gross job gains of 6.8 million.
     Job losses reached their lowest level since September 1992, according to the Feb. 1 Bureau of Labor Statistics report, “Business Employment Dynamics – Second Quarter 2010.”
     Both the goods-producing and service sectors of the economy posted net gains in jobs. The service sector added 572,000 jobs, led by the professional and business services industry, which gained 196,000 jobs.
     Employment declined overall in financial services, information and utility industries.
     Goods-producer, including manufacturing, mining, natural resources and construction industries, added 156,000 jobs, led by manufacturing’s 85,000. The construction industry posted a slight gain of 1,000 jobs – its first growth since March 2007.
     Only six states suffered greater unemployment, down from 35 states in the previous quarter. California showed the largest net gain, adding 100,000 more jobs than it lost.
     Data for the third quarter of 2010 are scheduled to be released on May 3.

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