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Employment Situation Unchanged in April

According to the Bureau of Labor Statistics (BLS), the unemployment rate for the month of April remained relatively unchanged at 5.0%. Job growth continued to show an upward trend in health care, and in professional and technical services, while employment continued to decline in construction, as well as manufacturing, and retail trade. According to BLS, the employment trend within the health care industry saw, over the month, a gain of 37,000 jobs. Specifically, the industry saw growth within ambulatory health care services (+22,000) and hospitals, adding 9,000 jobs. Over the past 12 months, the health care industry added 365,000 jobs. Furthermore, professional and technical services employment rose by 27,000 in April after showing little change during the first quarter of 2008. Computer systems design added 10,000 jobs over the month and employment in accounting and bookkeeping services rose by 9,000. Conversely, the number of manufacturing jobs continued to decline in April with a loss of 46,000 jobs with nearly all the decline occurring in durable goods manufacturing. Indeed, large job losses were seen in motor vehicles and parts, recording losses of 17,000 and 11,000 in fabricated metal products. Declines were also seen in furniture and related products, with a loss of 4,000 jobs, and in semi-conductors and electronic components recording a loss of 3,000 jobs. Over the past 12 months, manufacturing employment has declined by 326,000.