US Unemployment continues to fall, now at four year low

US employers added 162,000 new jobs last month helping to bring the unemployment rate down to 7.4% nationally, the lowest rate in four years.

The strongest job growth was in retail, which added over 46,000 jobs last month.  That means consumers are spending.  Good news.

Another 36,000 jobs were added in professional and business services.  Only 7,000 of those were temp jobs - more good news.

Government jobs only added 1,000 position, leaving that number virtually unchanged.  Cutting back on government jobs - a favorite of conservatives who like smaller government - has played a big part in the numbers of unemployed in the US.  The largest loss of jobs in the country by sector has occurred in government jobs as positions have been cut, largely through attrition.  These jobs include not only civil servants, but unfortunately teachers, police and firefighters.

Over the past 41 months over 7 million private sector jobs have been created.