Staffing Industry Ads 11,400 Jobs Despite Economic Stagnancy

Small business graphThus far, 2015 has been a good year for the American people, as both January and February ushered in significant sums of newly-created jobs in the national economy. However, a recent report by the U.S. Labor Department reveals that the number of jobs created in March stands at only 126,000, down significantly from earlier in the year.

According to the New York Times, the nation’s most prominent economic analysts are pinning the blame on the low market value of oil. Although the cheap gas prices is a much welcomed occurrence for the greater American public, those whose livelihood rests in the oil and energy sectors of the economy are hurting, as there have been thousands of jobs lost in layoffs and forced retirements as compensation for the low price of oil.

Moreover, the low March tally for job growth has caused the Department of Labor to recalculate their totals from January and February of 2015, slashing 69,000 total jobs-added from their previous estimates. Their new figures unveil a more accurate depiction of 2015’s success, as it turns out that there were actually just shy of 200,000 jobs added in February and January.

The report also found that unemployment remained unchanged in March, resting at 5.5%. Hourly wages rose 0.3 percent nationwide, though hours worked decreased, leaving the average income unchanged, unfortunately.

Nonetheless, even with the national economy’s stagnancy, the staffing industry was able to boast a successful March, as the sector boasted 11,400 new jobs, a 0.4% increase from February. The American Staffing Association reports that the sector has grown 5.3% from its 2014 totals, proving the prowess of the staffing industry in the modern economy.

So there is good news for those who work in the staffing industry. Even though the national economy’s growth has slowed to a lethargic trot, their sector of the economy is flourishing and adding jobs at a promising rate.

Government officials are urging Americans not to get dismayed with the slowdown in job growth. Thomas E. Perez, the secretary of labor, urged the American people not to be discouraged, however. On the subject of his department’s recent report, he remarked, “It was lower than expectations, without a doubt. But I’ve always said that one month never makes a trend.” As a matter of fact, hoping to rhetorically keep moral high among the nation’s workforce, the secretary retorted that if somebody were to have told him at this time last year that unemployment would only be at 5.5% (as opposed to the 6.6% level in April 2014), he would have assumed it was an April Fool’s joke. Hopefully, the labor secretary’s optimism is well-warranted, and the national economy will be able to follow the trend set by the staffing industry.