adecco usa job market update december 2014

•

Job Market Update

U.S. Economic Data

Reflective of the Bureau of Labor Statistics

“The Employment Situation – December 2014”

As of January 2014

•

Overview of “The Employment Situation”

• The December report showed an overall

monthly gain of 252,000 jobs – higher

than the average monthly gains of

246,000 for the year

• Nearly 2.9 million jobs have been added

since January 2014

• Unemployment rate declined by 0.2% to

5.6%

• Revisions to prior months:

- The October number was revised from +243,000

to +261,000.

- The November number was revised from

+321,000 to +353,000.

- That makes a combined 50,000 more jobs than

previously reported

2

•

252,000 new jobs added in December

84

144

222203

304

229

267

212 203

271 261

353

252

13-DEC

JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV 14-DEC

In T

ho

usan

ds

3

* Numbers are seasonally adjusted. Source: BLS

•

Unemployment rate declined in December

• Total nonfarm payroll employment

increased by 252,000

- Unemployment rate declined to 5.6%.

- The number of long-term unemployed

persons (8.7 million) declined by 383,000 in

December.

- Since December 2013, the number of

unemployed has declined by 1.1% and 1.7

million, respectively.

• Discouraged workers in December -

740,000 (down by 177,000 from a year

earlier)

4

JOBS GAINED IN DECEMBER

UNEMPLOYMENT RATE

LOWEST UNEMPLOYMENT

RATE SINCE

252,000

5.6%

June 2008

•

November’s job creation statistics

• United States private sector generated

over 240,000 jobs in December

- Highest increase in employment within

professional and business services,

retail, construction, and leisure and

hospitality.

5

Source: BLS

•

Industry Breakdown

Professional & Business Services

• Increase of +52,000 jobs

- Employment services added +16,200 new

jobs (3.7 million total workforce)

- Temporary help services created +14,700


- Administrative and support services added

34,400+ new jobs (8.5 million total

workforce)

- Computer Systems and design services

added 9,000 new jobs

• Total Americans employed in this sector

during December: 19.5 million

Health care

• Added +24,500 jobs during December

(above the 12-month average increase of

20,000)

- Ambulatory services generated +16,200


- Home health care services grew +4,200


- Hospitals grew +7,000 jobs (4.8 million

total workforce)

• Health care industry is at an all-time high

in terms of job availability

Temporary Help Services

• 23rd consecutive month of job creation

with increase of +14,700 jobs

• 2.9 million total workforce

6

Source: BLS

•

Industry Breakdown

Leisure & Hospitality

• Increase of +43,600 jobs in December



Manufacturing

• Added +17,000 new jobs



Construction

• Added +48,000 new jobs

• Total Americans employed in this

sector during December: 6 million

- Non-residential specialty trade contractors

gains +12,800 jobs (2 million total

workforce)

- Heavy civil engineering construction added

+11,600 jobs (937,000 total workforce

Retail

• Added +7,700 jobs in December

- Clothing and clothing accessories stores

grew by +8,900 jobs (1.3 million total

workforce)

- Motor vehicle parts dealers added +6,000


- Food and beverage stores added +5,700

jobs (3 million total workforce)


during November: 15.5 million

7

•

Employment in total nonfarm

2

48

17

10

7.7

3.1

2

10

52

48

36

14.7

2

12

0 10 20 30 40 50 60

Mining and logging

Construction

Manufacturing

Wholesale trade

Retail trade

Transportation and warehousing

Information

Financial activities

Professional and Business services

Education and health services

Leisure and hospitality

Temporary help servies

Other services

Government

Over-the-month change, December 2014

8

* Numbers are seasonally adjusted in thousands.

Source: BLS, Current Employment Statistics Survey, December 2014

•

Metropolitan employment improving across the country –November 2014

• Regional and state unemployment saw little change in the United States during

the month of November.

- 41 states and the District of Columbia show unemployment rate decreases from October, three

states had increases, and six states had no change.

• In November, unemployment rates were lower than a year earlier in 354 of the

372 me(23.1 percent) and metropolitan areas.

- Yuma, Ariz. had the highest jobless rate in November Lincoln, Neb. had the lowest jobless rate

(2.1 percent).

- A total of 191 areas had unemployment rates below the U.S. average, 167 areas had rates above

it, and 14 areas had rates equal to that of the nation.

- 33 metropolitan divisions had over-the-year unemployment rate decreases in November.

- The largest decline occurred in Chicago-Joliet-Naperville, Ill. (-2.6 percentage points). The only

area where the unemployment rate increased was Tacoma, Wash.

9

OPTIONAL SLIDE

Metropolitan employment data from previous month. Source: BLS

•

Mid-Atlantic Region – November 2014

• Unemployment rate of 5.7%

(-0.3% from previous month)

• Philadelphia City, PA had the largest

rate decline from a year earlier (-

2.7%)

• District of Columbia reported highest

unemployment rate at 3.3%

• Pennsylvania reported the lowest

unemployment rate at 5.1%

• States:

- Delaware

- District of Columbia

- Maryland

- Pennsylvania

- Virginia

- West Virginia

10

OPTIONAL SLIDE


•

Midwest Region – November 2014

• The Midwest region had the lowest

unemployment rate at 5.4% (-0.2%)

• North Dakota had the lowest

unemployment rate of 2.7%

• Illinois has seen the largest net

change in unemployment, with a

drop of -2.6% in the last 12 months

• Michigan had the highest

unemployment rate at 6.7 (-0.4 from

the previous month)

• States:

- Illinois

- Indiana

- Iowa

- Kansas

- Michigan

- Minnesota

- Missouri

- Nebraska

- North Dakota

- Ohio

- South Dakota

- Wisconsin

11

OPTIONAL SLIDE


•

Mountain-Plains Region – November 2014

• The Mountain-Plains region had an


• Colorado had the largest

unemployment rate decrease of

2.2% from previous year

• Missouri had the highest

unemployment rate at 5.6% (-0.3%

from the previous month)

• Utah continues to have one of the

lowest unemployment rates in the

country, with 3.6 percent (unchanged

from the previous month)

• States:

- Colorado

- Kansas

- Missouri

- Montana

- Utah

- Wyoming

12

OPTIONAL SLIDE


•

New England Region – November 2014

• The New England region

unemployment rate dropped to

5.8%, a 0.1% decrease

• Rhode Island saw one of the largest

over-the-month percentage declines

in employment, dropping -0.3% to

7.1%

- Rhode Island still had the highest

unemployment rate in the region.

• New Hampshire recorded the lowest

unemployment rate of the region, as it

dropped 0.1% to 4.1% in November

• States:

- Connecticut

- Maine

- Massachusetts

- New Hampshire

- Rhode Island

- Vermont

13

OPTIONAL SLIDE


•

New York, New Jersey Region – November 2014

• The New York lead the way with an


• The New Jersey unemployment rate

was 6.4% percentage points to 6.6%

• Puerto Rico had the highest

unemployment rate at 14%.

• States:

- New York

- New Jersey

- Puerto Rico

14

OPTIONAL SLIDE


http://www.bls.gov/regions/new-york-new-jersey/home.htm

•

Southeast Region – November 2014

• The Southeast region had an


• Florida also had the lowest overall

unemployment rate in the region, at

5.8%

• Mississippi had the highest

unemployment rate in the region,

with 7.3%; and Georgia was closely

behind with 7.2%

• The metro area with the lowest

unemployment rate was Asheville,

NC at 4.0%

• States:

- Alabama

- Florida

- Georgia

- Kentucky

- Mississippi

- North Carolina

- South Carolina

- Tennessee

15

OPTIONAL SLIDE


•

Southwest Region – November 2014

• The Southwest region’s

unemployment rate dropped 0.2%, to

5.1%.

• Arkansas had a significant over-the-

month decrease, declining from 6.1 to

5.8 percent unemployment.

• Louisiana had the highest jobless

rate, rising 0.3 percentage points to

6.5 percent (+0.9 percent over the last

year).

• Oklahoma had the lowest

unemployment rate at 4.4 percent (-

1.1 percent over the last year).

• States:

- Arkansas

- Louisiana

- New Mexico

- Oklahoma

- Texas

16

OPTIONAL SLIDE


•

West Region – November 2014

• The West continued to have the

highest unemployment rate in the

country at 6.4 percent

• Idaho touted the lowest

unemployment rate of 3.9.

• Once again, California has the

highest unemployment rate at 7.2.

• The Logan, UT-ID metro area had

the lowest unemployment rate in the

region at 2.5 percent.

• States:

- Alaska

- Arizona

- California

- Hawaii

- Idaho

- Nevada

- Oregon

- Washington

17

OPTIONAL SLIDE


adecco usa job market update december 2014

Economy & Finance