Norwood, MA (PressExposure) June 08, 2011 -- The US Bureau of Labor Statistics released its latest employment figures which revealed little change in May, adding only 54,000 jobs nationwide, and the unemployment rate remains at 9.1%. They went on to report that the total USA workforce stands at some 153.7 million, little changed from the previous month. Although there was some improvement in the seasonally adjusted unemployment rate for a few months at the beginning of this year, the last two months have seen an increase in unemployment. Interestingly, the number of nonfarm payroll employment changes month-to-month have shown increases over the last several months, but not sufficient to offset those losing jobs.
The latest labor report is seen by many as a dismal indicator of the overall economy. It comes on the back of a poor real estate market and weak consumer spending. Wall Street had expected an increase in non-farm payrolls of approximately 200,000 jobs in May. It is estimated that it will take an increase in new jobs by approximately 100,000 per month to prevent the number of unemployed growing.
Jobs did increase in professional and business services, healthcare and mining, but there was little change in the employment levels in other private sectors. Employment in local government continued to decline. The really scary data is that the unemployment rate in the younger age group reached 24% and is also higher in certain minority groups.
Darrell Maclean, President of SMI, has over 25 years experience and expertise in dealing with environmental hazards such as asbestos, lead, mercury, and other noxious agents, commented that "SMI has always been a type of 'suburban economic indicator' of the overall economy, with the amount of our business rising and falling just ahead of other economic indicators. Our business has been pretty steady over the last several months, but is not as robust as in previous years. I fear we may be in for another hard year ahead."
Charles Smith, Vice President at SMI, also with over 25 years experience and expertise in industrial and suburban environmental remediation, commented, "Most recently, we have seen the number of jobs pick up, which gives us some hope that the economy will pick up later in the year."
Southern Middlesex Industries is an Environmental Remediation company and a suburban economic indicator, with an outstanding reputation throughout New England. SMI has over 25 years experience and expertise in industrial and suburban contaminant removal and safe disposal, including asbestos, lead, mercury, pcb's, refrigerants, mold and has expertise in building demolition, selective interior demolition and general contracting services.
FOR A FREE COPY OF THE ASBESTOS NESHAP INSPECTION AND SAFETY PROCEDURES WORKSHOP OR THE MASSDEP PRESENTATION ON THE NEW ASBESTOS RULES, GO TO THE SMI BLOG SITE AND REQUEST IT.
For More Information: Visit Darrell Maclean at the SMI website or the SMI Blog
Copyright © 2011 Southern Middlesex Industries, Inc. (SMI)