Unemployment Drop A Sign Of Solid Economic Recovery
DENVER (CBS4) – The unemployment rate has fallen to 7.7 percent nationwide and businesses have added 236,000 jobs last month. That’s far better than economists expected, but where are the jobs?
Even though 12 million are still out of work, the good news is the job market could turn out to be better than expected because the construction industry adding almost 50,000 jobs.
Andrew Hudson of andrewhudsonsjobslist.com stopped by CBS4 studios to talk about what the latest news means for Colorado
“This is not so much of an unemployment whiplash scenario where you get these drips of good numbers and then all of sudden you get struck with this barrage of bad numbers,” Hudson said. “Most experts are saying that, unemployment right now, is we really we’re seeing the front end of a solid economic recovery, which is really great.
“Here in Colorado the unemployment rate is 7.2 percent, which is below the national average. And in some places like the tech quarter between Broomfield and Boulder, it’s actually as low as 6 percent.”
Hudson said the new job openings are a mix.
“On my website I’ve seen about a 25 percent increase in the actual number of jobs being posted since January. I’m seeing better paying jobs, but just better jobs all around,” he said. “In the terms of the sectors themselves it’s kind of this rising tide that lifts all ships.
“In Colorado we’re seeing it in the information and business service sector. We’re seeing in health care and education sectors. We’re also seeing just the high-tech jobs. There are a lot of new companies that are coming here or expanding here.”
In another bright note, those fortunate enough to have a job with a 401k, Friday’s jobs report helped stocks rise even higher, setting a new record.