1. M a y 2 , 2 0 1 4
• Robust hiring in April and upward revisions to prior months’ job creation totals drive
2014 monthly average employment gains above the 200,000 benchmark.
• The jobless rate plunged 0.4 percentage points to 6.3%, bringing unemployment to
its lowest levels since 2008.
• April’s employment report is largely positive, suggesting U.S. economic growth may
be gaining momentum after a winter slump.
Job creation surged in April, as employers added 288,000 new workers to their payrolls, the largest monthly employment gain in more than
two years. Employment growth in March was revised upward by 11,000 workers, and an additional 25,000 workers were added to
February’s payroll gains. With the revisions, employment growth has averaged more than 214,000 per month thus far in 2014.
(Continued)
JOB GAINS WIDELY SURPASS EXPECTATIONS
AVERAGE HOURLY EARNINGS
(ALL WORKERS)
$24.31
1.9% ABOVE LAST YEAR
U.S. EMPLOYERS HIRED
+288,000
WORKERS IN APRIL
THE UNEMPLOYMENT RATE FELL TO
6.3%
7.5% LAST APRIL

2. Talent Market Monthly: May 2, 2014
April’s employment growth was widespread across
industries. Job gains in the construction industry were
strong again at +32,000, and manufacturing employment
also showed a slight increase (+12,000). The professional
and business services sector added 75,000 workers in
April, exceeding the monthly average gain of +55,000 over
the past year. Hiring was also strong in consumer sectors
including retail trade (+34,500) and food and drink
establishments (+32,600), and in the education and
healthcare sectors (+12,400 and +18,700 respectively).
The unemployment rate fell from 6.7% in March to 6.3%,
its lowest point in more than five years. A reduction in
labor force participation was partly responsible—more
than 800,000 workers left the labor force, nearly offsetting
the previous two months’ gains. However, the number of
unemployed workers also fell during the month, bringing
U.S. unemployment under 10 million workers, the lowest
level since 2008.
April’s healthy job gains and favorable unemployment
trends may signal that the U.S. economy is finally set to
spring back from its winter cooldown.
EMPLOYMENT OVERVIEW
NOV DEC JAN FEB MAR APR
Total non-farm employment growth 274K 84K 144K 222K 203K 288K
Private sector employment growth 272K 86K 166K 201K 202K 273K
Unemployment rate 7.0% 6.7% 6.6% 6.7% 6.7% 6.3%
An Equal OpportunityEmployer ©2014 Kelly Services, Inc. W1093e. Kelly Services, Inc. makes no representationor warranty with respect to the materialcontained in this report.
READY FOR THE REAL WORLD
U.S. MONTHLY EMPLOYMENT CHANGE AND UNEMPLOYMENT RATE
Source: Bureau of Labor Statistics
6.0
7.0
8.0
9.0
10.0
0
100
200
300
400
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan13
Feb13
Mar13
Apr13
May13
Jun13
Jul13
Aug13
Sep13
Oct13
Nov13
Dec13
Jan14
Feb14
Mar14
Apr14
UnemploymentRate(%)
Employment(000s)
Total non-farm employment growth Unemployment rate
As this year’s crop of new college graduates enters the workforce, they will find a
modestly favorable hiring climate: according to a new survey by CareerBuilder and
CareerRookie.com, 57 percent of employers say they plan to hire new college
graduates in 2014, up from 53 percent last year and significantly higher than 44
percent in 2010.
Despite the rosy hiring intentions, employers express some doubts about how
well universities are preparing new graduates for their first jobs. Nearly a quarter
of employers (24 percent) don’t feel that academic institutions are adequately
preparing students for the positions needed within their organizations.
Surprisingly, the key deficiencies noted are not technical skills, but deal with
practical, real-life issues. The number one concern was too much emphasis on
book learning instead of real-world learning, cited by more than half of employers
(53 percent). More than a third of employers (35 percent) also said that their
companies need graduates with a better blend of soft skills and technical skills.
Companies also recognize that their expectations for recent college graduates are
rising. More than a quarter (26 percent) of employers say that their entry level
roles are growing more complex, creating a disconnect between students’ skills
and their companies’ workforce needs.
Source: CareerBuilder