Firms Go On A Hiring Spree

By Jeanine Aversa
The Associated Press




June 2, 2007

WASHINGTON -- The country's economic health may be improving. Employers nearly doubled the number of jobs they added to payrolls in May, allowing the unemployment rate to hold steady at a relatively low 4.5 percent.

The fresh employment picture provided by the Labor Department on Friday showed job creation bounced back, with payrolls growing by 157,000 last month. That was an improvement over the 80,000 new jobs generated in April, the fewest in two and a half years.

Jobseekers found more opportunities last month in health care, education, accounting, engineering, Internet-related activities, banking, food services and government.

However, they found fewer jobs available in manufacturing and retailing, which cut positions. And construction jobs were flat. Those pockets of weakness mostly reflected problems related to the troubled housing and automotive industries.

Florida's unemployment rate was 3.4 percent in April, the latest month for which figures are available.

Many economists think the U.S. economy is growing at a pace of about 2.3 percent. Others think economic growth will be better -- topping 3 percent.

Either way, it would mark a considerable pickup from the anemic 0.6 percent growth rate registered in the January-to-March quarter, the worst in more than four years.

In another hopeful sign for the anticipated rebound, factories gained ground last month.

The Institute for Supply Management's manufacturing index rose to 55 in May, the best showing in a year. A reading above 50 indicates growth, while a reading below 50 indicates contraction.

And a third report, released by the Commerce Department, showed consumer spending rose 0.5 percent in April, the biggest increase in two months.

http://www.orlandosentinel.com/business/orl-econ0207jun02,0,262064.story?coll=orl-business-headlines

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