Job Creation Speeds Up

LOS ANGELES—In April, both private sector and government agency job creation sped up and payroll gains have reached the highest levels in two years, according to a research brief from Institutional Property Advisors. In total, 288,000 jobs were created in the month of April alone. Although GDP growth in the first quarter was weak, the report notes that these job gains cast a positive outlook on economic expansion for the year.

Job growth was seen in almost all sectors, but a few stood out. Professional and business services sectors produced the most job growth with 75,000 new jobs. The strong commercial real estate development industries led to a boost in construction positions. Those industries produced 32,000 new jobs. Manufacturing industries produced 12,000 during the month, and an increasing in retail spending has led to significant store openings and job growth in the retail sector. The information sector, primarily media positions, was the only sector to see job loss in April.