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Increased Number of Jobs Added - 3/23/15

The U.S. economy has added nearly three point three million jobs over the past year.  In February, a month with only twenty eight days, the economy added another two hundred and ninety five thousand jobs.  As detailed by CNNMoney, over the past year, retail, healthcare and service positions have added the most jobs. 

Employment in the energy sector, however, is beginning to slow after years of gains in the wake of plummeting fuel prices.  Growing consumer spending is reflected nearly in industry specific employment figures.  For instance, the food sector added fifty nine thousand jobs in February and has added nearly four hundred and fifty thousand positions over the past year.  Those jobs, however, are generally not highly compensated and many are part-time. 

Healthcare, by contrast, produces many full-time middle-income jobs.  Perhaps in part to the Affordable Care Act and the broadening of insurance availability, employment in healthcare continues to rise.  Since the Act became law in March twenty ten, healthcare employment is up by one point two million jobs.  But the Act may also be causing companies to cut back on hours for their part-time employees.

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.