Jobs Market Improves

valeriebenson · Jul 11, 2012

Last month, not as many companies planned layoffs and hiring increased in

the private sector. Unemployment claims decreased during the last week of

June also.

According to CNN Money, the Labor Department reported that 14,000 fewer

people filed for first-time unemployment benefits at month's end, ending an

uptick in filings, and boosting confidence that layoffs could be slowing.

37,551 jobs were planned to be cut, which was the lowest number in over a

year.

The private sector added some 176,000 jobs last month, which was a much

higher than the previous month, while small businesses are credited with

driving jobs growth, as businesses with less than 50 employees hired 93,000

people, CNN says. The Washington Post reports that expects say "it takes at

least 125,000 new jobs each months to absorb population growth."

US economist Erik Johnson said, "Looking forward, slow growth is expected.

But the U.S. economy should avoid recession."

The housing market has improved in both prices and sales volume which is

expected to bring jobs to the real estate and construction industry, MSNBC

reports. Yet despite the improved outlook, consumer confidence continues to

fall, hitting its lowest index of this year.

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