Adecco USA Job Market Update August 2014

Download Adecco USA Job Market Update August 2014

Post on 01-Nov-2014

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Adecco USA Job Market Update August 2014

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<ul><li> 1. Job Market Update U.S. Economic Data Reflective of the Bureau of Labor Statistics The Employment Situation August 2014 As of September 2014 </li> <li> 2. Overview of The Employment Situation As recently as August 2014, total nonfarm payroll employment increased by 142,000 Revisions to prior months, June &amp; July: - May and June stats were 28,000 fewer than originally reported - June payroll numbers revised from +298,000 to +267,000 - July payroll numbers revised from +209,000 to +212,000 2 </li> <li> 3. 142,000 new jobs added in August 202 164 237 274 84 144 222 203 304 229 267 212 142 In Thousands 3 * Numbers are seasonally adjusted. Source: BLS </li> <li> 4. Unemployment rate decreased in August Total nonfarm payroll employment increased by 142,000 - Unemployment rate slightly dropped, from 6.2% to 6.1% - Unemployment rate and the numbers of unemployed persons have declined by 1.1%, (1.7 million) in the last year. Long-term unemployed (jobless for 27+ weeks) decreased by 192,000 to 3.0 million - Since August 2013 decrease of 1.3 million Discouraged workers 775,000 - The same from previous year 4 JOBS GAINED IN AUGUST 142,000 UNEMPLOYMENT RATE 6.1% LOWEST UNEMPLOYMET RATE SINCE JULY 2014 </li> <li> 5. Augusts job creation statistics United States private sector generated over 134,000 jobs in August - Employment rate back to pre-recession conditions - US has more jobs than in over four years 5 Source: BLS </li> <li> 6. Industry Breakdown Professional &amp; Business Services Increase of 47,000 jobs (up +639,000 from previous year) - Management of companies and enterprises: +7,800 new jobs (2.1 million total workforce) - Administrative &amp; support services: +22,700 new jobs (8.3 million total workforce) - Temporary help services: +13,000 new jobs (2.8 million total workforce) Total Americans employed in this sector during August: 19.3 million Healthcare Increase of 34,000 jobs - Ambulatory services: +22,800 new jobs (6.7 million total workforce) - Social assistance services: +8,700 new jobs (3.3 million total workforce) - Physicians offices services: +7,800 jobs (2.5 million total workforce) Temporary Help Services Increase of +13,000 jobs Since August 2013, annual growth of 214,900 people employed average of 2.8 million people 6 Source: BLS </li> <li> 7. Industry Breakdown Manufacturing Increase of +28,000 new jobs in July. No change in August. Total Americans employed in this sector during August: 12 million Construction Increase of 20,000 jobs - Construction of buildings: +7,200 new jobs (1.3 million total workforce) - Nonresidential specialty trade contractors: +2,300 jobs (2.1 million total workforce) - Residential specialty trade: +9,200 new jobs (1.6 million total workforce) Total Americans employed in this sector during August: 6 million Retail Decrease of 8,400 jobs - Food and beverage stores: -17,100 jobs (2.9 million total workforce) - Clothing and accessories stores: -6,200 jobs (1.3 million total workforce) - General merchandise stores: +7,600 new jobs (3.1 million total workforce) Total Americans employed in the sector during August: 15.3 million 7 </li> <li> 8. Employment in total non-farm Over-the-month change, August 2014 Transportation and warehousing Professional and Business services 2 20 0 6.5 -8.4 1.2 -3 7 47 37 15 13 8 8 Mining and logging Construction Manufacturing Wholesale trade Retail trade Information Financial activities Education and health services Leisure and hospitality Temporary help servies Other services Government -20 -10 0 10 20 30 40 50 8 * Numbers are seasonally adjusted in thousands. Source: BLS, Current Employment Statistics Survey, August 2014 </li> <li> 9. OPTIONAL SLIDE Metropolitan employment improving across the country July 2014 Regional and state unemployment rates saw little change in the United States metropolitan areas In July, the national unemployment rate increased slightly to 6.2% - 1.1% lower than the previous year. - Bismarck, North Dakota at 2.4%led the nation with the lowest unemployment rate (an increase of 0.2% from June). - Unemployment decreased in 348 of 372 metropolitan areas, increased in 16 areas and was unchanged in 8 areas. - 15 states had jobless rates of at least 10%, whereas 68 area had rates less than 5% - All of the 34 metropolitan regional divisions had over-the-year employment gains since August 2013 Largest over-the-year unemployment rate decrease was in Chicago-Joliet-Naperville, Ill. (-2.8 percentage points), followed by Lawrence-Methuen-Salem, Mass.-N.H. (-2.1 points) and Los Angeles-Long Beach-Glendale, Calif. (-2.0 points). 9 Metropolitan employment data from previous month. Source: BLS </li> <li> 10. Mid-Atlantic Region July 2014 Unemployment rate 6.3% (unchanged from the previous month) Philadelphia, PA had the largest rate decline from previous year (-2.6% points) Morgantown, WV reported the lowest unemployment rate at 4.3% (+0.2% from the previous month) States: OPTIONAL SLIDE - New Jersey - New York - Pennsylvania Metropolitan employment data from previous month. Source: BLS 10 </li> <li> 11. Midwest Region July 2014 Unemployment rate 5.9% (unchanged from previous month) By state North Dakota had lowest unemployment rate of 2.8% By city Bismarck, North Dakota had the lowest rate of 2.4% (-0.2% from previous month) Largest over-the-year percentages increase in job growth also occurred in North Dakota (+4.4%) States: OPTIONAL SLIDE - Illinois - Indiana - Iowa - Kansas - Michigan - Minnesota - Missouri - Nebraska - North Dakota - Ohio - South Dakota - Wisconsin Metropolitan employment data from previous month. Source: BLS 11 </li> <li> 12. Mountain-Plains Region July 2014 By state Nevada had the largest unemployment rate decrease at 2.2% from previous year - Still came in last in the region with 7.7% unemployment - By city Yuma, AZ has largest unemployment rates in the country at 29.9% (+2.3% from previous month) States: OPTIONAL SLIDE - Alaska - Arizona - California - Colorado - Hawaii - Idaho - Montana - Nevada - New Mexico - Oregon - Utah - Washington - Wyoming Metropolitan employment data from previous month. Source: BLS 12 </li> <li> 13. New England Region July 2014 Unemployment rate 5.8% (0.1% increase) Vermont Burlington-South Burlington metro area and New Hampshires Portsmouth NH-ME metro area tied at the lowest unemployment rate of the region at 3.6% Highest unemployment rate in Lawrence-Methuen-Salem at 9.9% States: OPTIONAL SLIDE - Connecticut - Maine - Massachusetts - New Hampshire - Rhode Island - Vermont Metropolitan employment data from previous month. Source: BLS 13 </li> <li> 14. Southeast Region July 2014 Unemployment rate increased slightly from 6.1% to 6.2% during July South Carolina (-2.0%) had the largest unemployment rate declines from June 2013 Virginia had the lowest unemployment rate in the region at 5.4%. States: OPTIONAL SLIDE - Delaware - District of Columbia - Florida - Georgia - Maryland - North Carolina - South Carolina - Virginia - West Virginia - East South Central - Alabama - Kentucky - Mississippi - Tennessee Metropolitan employment data from previous month. Source: BLS 14 </li> <li> 15. Southwest Region July 2014 Unemployment rate increased slightly from 5.1% to 5.2% during July By state Oklahoma had the lowest unemployment rate of 4.6% By city Midland, TX had the highest unemployment rate at 2.9% (-0.7% from previous year) Texas saw the largest over-the-month increases in employment in the US with +396,200 new jobs States: - Arkansas - Louisiana - Oklahoma - Texas OPTIONAL SLIDE Metropolitan employment data from previous month. Source: BLS 15 </li> <li> 16. West Region July 2014 Unemployment rate 6.6%, a decline of -0.1% from previous month and - 1.5 from previous year (highest regional unemployment rate) By state Utah had the lowest unemployment rate of 3.6% - Logan, UT-ID 3.3% California had the largest over-the-year job increase, adding 323,400 new jobs since June 2013 - Overall jobless rate of 7.4% - El Centro, CA had the highest unemployment rate in the state at 24.7% States: OPTIONAL SLIDE - Alaska - Arizona - California - Colorado - Hawaii - Idaho - Montana - Nevada - New Mexico - Oregon - Utah - Washington - Wyoming Metropolitan employment data from previous month. Source: BLS 16 </li> <li> 17. Questions? </li> </ul>