Employers show confidence U.S. economy is turning around in May.
In May, the U.S. economy added 280,000 jobs, according to the Labor Department. This is a good sign for an economy that has showed weakness in the first half of the year. This vote of confidence is convincing employers that customer demand will accelerate as well.
"It's kind of a strange situation because consumers are getting jobs, and their incomes are improving," John Silvia, chief economist at Wells Fargo, told the AP.
One reason for the upturn in jobs is that companies are no longer feeling the pain. Major U.S. corporations are burdened by the strong dollar when it comes to overseas profits. However, smaller businesses with a U.S. workforce are more immune to currency swings.
“Sylvan Learning plans to open up to 20 centers this year, creating 30 to 40 full-time and potentially 400 part-time jobs. Greater demand for their programs in science, math and robotics indicates that more parents are investing in their children's futures,” John McAuliffe, Sylvan Learning chief financial officer, told the AP.
It’s an investment that will pay off. Employers have also showed interest in new college graduates. According to the AP, 780,000 graduates began looking for work, and 760,000 found jobs. College graduates tend to earn more throughout their lifetime and have less instances of unemployment.
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