Unemployment Rate at 5.6 Percent for February

Unemployment Rate at 5.6 Percent for February
Friday March 5, 2010
Your eyes have not failed you;  however, that unemployment rate of 5.6 percent only applies to the healthcare and education sectors, unfortunately.  It seems that some good news on the employment situation is much needed, and healthcare typically provides a bright spot.

Sadly, the overall national employment rate didn't budge from 9.7 percent,  and the nation lost yet another 36,000 jobs in February, according to the Bureau of Labor Statistics report released today.

Healthcare added about 20,000 jobs in February, and the unemployment rate for health care and education is at 5.6 percent.  Construction and retail lost jobs, while temporary services showed growth of about 48,000 jobs.  Additionally, the BLS reports that the inclement weather may have also affected the employment situation, with severe winter storms causing many people to go without pay for extended periods of time.

John A. Challenger, CEO of Challenger, Gray, & Christmas, Inc., offers his optimistic insight: "The 36,000 jobs lost in February may be disconcerting for some, but job creation is typically the last piece of the recovery puzzle and it usually takes the longest to develop."  Challenger, Gray, & Christmas is an outplacement consulting organization in the U.S. and Canada. 

"Our tracking of announced job cuts in February showed the fewest planned layoff announcements since 2006," Challenger continues, "This is a strong indication that employers are turning from a downsizing strategy to one focused on workforce stabilization and eventually job creation.  However, it could be six months or more before we really begin to see substantial and sustained job growth."

More:

In Demand Health Careers 2008-2018
Top Medical Jobs
5 Reasons to Work in Healthcare
Unemployment Rate at 5.6 Percent for FebruarySource: www.about.com

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