(CNN) — The Labor Department’s latest jobs report showed the United States economy added 217,000 positions in May, 2014. That’s more than analysts expected, and is enough to put the country back at a key milestone, CNN reports.
The U.S. has now returned to where it was way back in January of ’08, just before massive layoffs swept through the job market, leaving 8.7 million Americans out of work. Although the labor market has been recovering, the jobs that are coming back aren’t necessarily the same that were lost.
The blue collar jobs like manufacturing and construction accounted for about half of the positions lost in the crisis, and they have been painfully slow to return.
In Friday’s report, just 16,000 of those jobs were added. Compare that to 55,000 for business and professional services, which are at an all time high right now. Also, with the recent gains, economists predict it will take 2 to 3 more years to return to “full employment.” Which is considered to be a jobless rate around 5.5 percent, according to specialists. Right now, we are currently at 6.3 percent.
However, the good news is, the overall trend is positive and experts said that companies are once again hungry for talented individuals.