Adecco USA Job Market Update November 2014

Download Adecco USA Job Market Update November 2014

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Job Market UpdateU.S. Economic DataReflective of the Bureau of Labor Statistics The Employment Situation November 2014As of December 20141Overview of The Employment SituationThe November report showed an overall monthly gain of 321,000 jobs 100,000+ more jobs than the previous monthUnemployment rate remained unchanged at 5.8%Revisions to prior months:September & October experienced more growth than previously reported.The September payroll number was revised from +256,000 to +271,000.The October number was revised from +214,000 to +243,000.That makes a combined 44,000 more jobs than previously reported 2

321,000 new jobs added in November3* Numbers are seasonally adjusted. Source: BLSUnemployment rate unchanged in NovemberTotal nonfarm payroll employment increased by 321,000Unemployment rate unchanged at 5.8%The number of long-term unemployed persons was little changed at 2.8 millionSince November 2013, the number of unemployed has declined by 1.2 millionDiscouraged workers 698,000 (unchanged from previous year)4JOBS GAINED IN NOVEMBERUNEMPLOYMENT RATELOWEST UNEMPLOYMENT RATE SINCE321,0005.8%Sept. 2008 Novembers job creation statisticsUnited States private sector generated over 314,000 jobs in NovemberHighest increase in employment within professional and business services, retail trade, health care and manufacturing5Source: BLS

Industry BreakdownProfessional & Business ServicesIncrease of +86,000 jobsTemporary help services services created +23,000 jobs (2.97 million total workforce)Accounting and bookkeeping added +16,000 jobs (990,000 total workforce)Management and technical consulting services added +7,000 jobs (1.26 million total workforce)Total Americans employed in this sector during November: 19.52 million

Health careAdded 28,900 jobs during November (+261,000 positions over 12 months)Ambulatory services generated +24,300 jobs (6.77 million total workforce).Offices of physicians grew +6,600 jobs (2.52 million total workforce)Home health care services grew +5,000 jobs (1.31 million total workforce)Health care industry is at an all-time high in terms of job availabilityTemporary Help Services22nd consecutive month of job creation with increase of +22,700 jobs2.9 million total workforce 6Source: BLSIndustry BreakdownLeisure & HospitalityIncrease of +32,00 jobs in NovemberTotal Americans employed in this sector during November: 14.79 millionManufacturingAdded +28,000 new jobsPlastics and rubber products gained +7,100 jobs (675,800 total workforce)Food manufacturing added +3,600 jobs (1.47 million total workforce)Total Americans employed in this sector during November: 12.2 million

RetailAdded +50,200 jobs in NovemberClothing and clothing accessories stores grew by +11,300 jobs (1.39 million total workforce)Motor vehicle parts dealers added +10,500 jobs (1.88 million total workforce)Sporting goods, hobby, book and music stores added 8,600 jobs (607,800 total workforce)Total Americans employed in this sector during November: 15.49 millionEmployment has grown by 290,000 over the last 12 months7Employment in total non-farm8* Numbers are seasonally adjusted in thousands. Source: BLS, Current Employment Statistics Survey, November 2014Metropolitan employment improving across the country October 2014 Regional and state unemployment rates have been steadily declining in the United States metropolitan areas throughout 2014.42 states and the District of Columbia show unemployment rate decreases over the past 12 months.In October, unemployment rates were lower than a year earlier in 354 of the 372 metropolitan areas.Bismarck, North Dakota continues to lead the nation with the lowest unemployment rate (2.0%) 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.Of the 372 metropolitan areas, eight areas had jobless rates of at least 10.0% and an impressive 144 areas had rates below 5.0%. The rest hovered around the national average.Employment increased in 318 of 372 metropolitan areas, decreased in 46 areas and was unchanged in 8 areas. The largest over-the-year employment increases occurred in New York, Northern New Jersey, Long Island, N.Y., N.J.- Pa. (+123,900), Houston-Sugar Land-Baytown, Texas (+120,600) and Dallas-Fort Worth-Arlington, Texas (+111,900).9OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSMid-Atlantic Region October 2014Unemployment rate of 6.0%(-0.1% from September)Philadelphia City, PA had the largest rate decline from a year earlier (-2.8%)New Jersey reported highest unemployment rate at 6.6%Pennsylvania reported the lowest unemployment rate at 5.4%

States:DelawareDistrict of ColumbiaMarylandPennsylvaniaVirginiaWest Virginia10OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLS10Midwest Region October 2014The Midwest reported an impressive unemployment rate of 5.6% (-0.1%)North Dakota had the lowest unemployment rate of 2.8%Illinois has seen the largest net change in unemployment, with a drop of -2.5% in the last 12 monthsMichigan had the highest unemployment rate at 7.1 (-0.1 from the previous month)

States:IllinoisIndianaIowaKansasMichiganMinnesotaMissouriNebraskaNorth DakotaOhioSouth DakotaWisconsin11OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSMountain-Plains Region October 2014Colorado had the largest unemployment rate decrease of 2.2% from previous yearThe largest over-the-month percentage increases occurred in Wyoming (+1.4%) closely followed by Utah (+0.7%)Missouri had the highest unemployment rate at 5.9% (-0.4% from the previous month)Utah continues to have one of the lowest unemployment rates in the country, with 3.6 percent (+0.1% from the previous month)States:ColoradoKansasMissouriMontanaUtahWyoming

12OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSNew England Region October 2014The New England region unemployment rate dropped to 5.9%, a 0.1% decreaseRhode Island saw one of the largest over-the-month percentage declines in employment, dropping -0.5% to 7.4%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 4.2% in October

States:ConnecticutMaineMassachusettsNew HampshireRhode IslandVermont13OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSNew York, New Jersey Region October 2014The New York unemployment rate dropped .2 percentage points from 6.2% to 6.0%.The New Jersey unemployment rate increased .1 percentage points to 6.6%Ithaca, NY had the lowest unemployment rate of the region at 3.9%.Guayama, PR had the highest unemployment rate at 20.9%.

States:New YorkNew JerseyPuerto Rico 14OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLShttp://www.bls.gov/regions/new-york-new-jersey/home.htmSoutheast Region October 2014The Southeast region saw both positive and negative resultsFlorida had one of the largest over-the-month increases in employment, adding +34,400 new jobs in October, and adding an incredible +206,900 jobs over the past 12 monthsFlorida also had the lowest overall unemployment rate in the region, at 6.0%Georgia had the highest unemployment rate in the country, with 7.7%; and Mississippi was closely behind with 7.6%States:AlabamaFloridaGeorgiaKentuckyMississippiNorth CarolinaSouth CarolinaTennessee15OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSSouthwest Region October 2014The Southwest regions unemployment rate remained the same in the month of OctoberTexas had one of the largest over-the-month increases in employment, adding +35,200 new jobs in October, and the most significant over-the-year job increase, adding a whopping +421,900 jobs since October 2013Oklahoma had the lowest unemployment rate of 4.5% (-1.1% over the last year)New Mexico had the highest rate of unemployment at 6.5%States:ArkansasLouisianaNew MexicoOklahomaTexas16OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSWest Region October 2014The West continued to have the highest unemployment rate in the country at 6.5 percent (the same as the previous month)Both Hawaii and Idaho touted the lowest unemployment rate of 4.1%California has experienced the largest over-the-month job increases by adding 41,500 in October, and 319,500 over the last yearHowever, California has the highest unemployment rate at 7.3%

States:AlaskaArizonaCaliforniaHawaiiIdahoNevadaOregonWashington17OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLS