Gains In Employment Show Encouraging Trend
DETROIT (WWJ) - The unemployment rate has fallen to a two-year low of 8.8 percent. The Labor Department says there were 216,000 new jobs in March, as companies added workers at the fastest two-month pace since before the recession began. Carl Camden is CEO of Kelly Services based in Troy. He says we need to see this trend continue.
"We need to see between 200,000 to 300,000 jobs created a month for another year, before we begin see a series dent in the unemployment. But this is the type of news we need to see, it's what's required, if we are to bring down a stubbornly high unemployment rate," says Camden.
Camden says we saw gains across the board, including health care, professional services and manufacturing.But government jobs continued to decline.
"It's a great jobs report. In fact, we've now had two great reports in a row. Over 400,000 jobs created over the last two months, way ahead of expectations. Growth basically in almost every sector of the economy, except local government and construction. A solid performance, good news for Michigan, good news for the country," Camden says.
Economists says there's still a long way to go to bring back the 7.5 million jobs that were wiped out during the downturn.
