Adecco USA Job Market Update October 2014
Post on 11-Jul-2015
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Job Market UpdateU.S. Economic DataReflective of the Bureau of Labor Statistics The Employment Situation October 2014As of November 20141Overview of The Employment SituationThe October report showed an overall monthly gain of 214,000 jobsUnemployment rate declined by 0.1% (from 5.9% to 5.8%)Revisions to prior months:August and September experienced more growth than previously reported.The August payroll number was revised from +180,000 to +203,000.The September number was revised from +248,000 to +256,000.That makes a combined 31,000 more jobs than previously reported 2
214,000 new jobs added in October3* Numbers are seasonally adjusted. Source: BLSUnemployment rate decreased in OctoberTotal nonfarm payroll employment increased by 214,000.Unemployment rate dropped from 5.9% to 5.8%.Unemployment rate (5.8%) and the number of unemployed persons (9 million) have declined by 0.8%, 1.2 million in the last year.Discouraged workers 770,000 (unchanged from previous year)4JOBS GAINED IN OCOTBERUNEMPLOYMENT RATELOWEST UNEMPLOYMENT RATE SINCE214,0005.8%Sept. 2008 Octobers job creation statisticsUnited States private sector generated over 209,000 jobs in October.Employment rate back to pre-recession conditions.US has more jobs than in over four years.5Source: BLS
Industry BreakdownProfessional & Business ServicesIncrease of +37,000 jobs (657,000 year-over-year growth)Employment services added +24,000 jobs (3.6 million total workforce)Temporary help services services created +15,100 jobs (2.9 million total workforce)Administrative and support services added +18,200 jobs (98.4 million total workforce)Total Americans employed in this sector during October: 19.4 million
HealthcareAdded 24,500 jobs during October.Ambulatory services generated +18,500 jobs (6.7 million total workforce).Home health services grew +7,400 jobs (1.3 million total workforce).Hospitals grew +3,500 jobs (4.8 million total workforce).Healthcare industry is at an all-time high in terms of job availabilityTemporary Help Services21st consecutive month of job creationIncrease of +15,100 jobs2.9 million total workforce6Source: BLSIndustry BreakdownLeisure & HospitalityIncrease of +41,800 jobs in OctoberTotal Americans employed in this sector during October: 10 millionConstructionAdded 12,000 new jobsResidential specialty trade contractors gained +10,300 jobs (1.6 million total workforce).Heavy and civil engineering construction added +5,500 jobs (928,000 total workforce)Total Americans employed in this sector during October: 6 million
RetailAdded +27,100 jobs in October Food and beverage stores grew by 7,500 jobs (3 million total workforce).General merchandise stores added 11,900 jobs (3.1 million total workforce).Automobile dealers added 4,300 jobs (1.1 million total workforce).Total Americans employed in this sector during October: 15.4 millionEmployment has grown by 249,000 over the last 12 months7Employment in total non-farm8* Numbers are seasonally adjusted in thousands. Source: BLS, Current Employment Statistics Survey, October 2014Metropolitan employment improving across the country September 2014 Regional and state unemployment rates saw little change in the United States metropolitan areas during September.31 states had unemployment rate decreases from August, 8 states had increases and 11 states and the District of Columbia had not change. 42 states and the District of Columbia showing unemployment rate decreases over the past 12 months, 5 state had increases, and 3 states had no change.In September, unemployment rates were lower than a year earlier in 339 of the 372 metropolitan areas.Yuma, AZ had the highest unemployment rate in September (25.9%)Bismarck, North Dakota continues to lead the nation with the lowest unemployment rate (2.1%) 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.All 34 metropolitan divisions had over-the-year unemployment rate decreases in September. The largest decline occurred in Chicago-Joliet-Naperville, Ill. (-2.5%).
9OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSMid-Atlantic Region September 2014Unemployment rate of 6.1%(-0.1% from August)Philadelphia City, PA had the largest rate decline from a year earlier (-2.8%).Also had one of the highest unemployment rates in the region with 7.1%Danville, VA reported highest unemployment rate at 7.2%State College, PA reported the lowest unemployment rate at 3.7%.
States:DelawareDistrict of ColumbiaMarylandPennsylvaniaVirginiaWest Virginia10OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLS10Midwest Region September 2014The Midwest reported an impressive unemployment rate of 5.7% (-0.1%) in September.North Dakota had the lowest unemployment rate of 2.8%. Bismarck, North Dakota had the lowest unemployment rate with an impressive 2.1% (-0.1% points from the previous month). Michigan had the highest unemployment rate at 7.4 (-0.3 from the previous month).
States:IllinoisIndianaIowaKansasMichiganMinnesotaMissouriNebraskaNorth DakotaOhioSouth DakotaWisconsin11OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSMountain-Plains Region September 2014The Mountain-Plains region reported a 5.6% unemployment rateUtah had the lowest unemployment rate of 3.5%. Logan, UT reported the lowest unemployment rate at 2.6%.Logan-UT-ID had the lowest unemployment rate at 2.6%Billings-MT a close second at 3.0%Kansas City, MO-KS had the highest unemployment rate in the region at 6.0%.
12OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSNew England Region September 2014The New England region unemployment rate increased to 6%, a 0.1% increase.New Hampshires Portsmouth metro area recorded the lowest unemployment rate of the region, as it dropped 0.3% to 3.5% in September.The highest unemployment rate in the region came in at Lawrence-Methuen-Salem MA, NH with 10.2%.
States:ConnecticutMaineMassachusettsNew HampshireRhode IslandVermont13OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSNew York, New Jersey Region September 2014The New York, New Jersey region unemployment rate dropped from 6.1% to 5.9%.Ithaca, NY had the lowest unemployment rate of the region at 3.9%.The unemployment rate Atlantic City, NJ with 16.9%. Guayama, PR had the highest unemployment rate at 22.4%.
States:New YorkNew JerseyPuerto Rico 14OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSSoutheast Region September 2014The South regions unemployment rate dropped 0.1% from 6.3% to 6.2%.Tennessee had the largest unemployment rate decline from September 2013.Dalton, GA had the highest unemployment rate in the region at 9%.Crestview-Fort Walton Beach-Destin, FL and Asheville, NC tied for the lowest unemployment rates in the region at 4.6%. States:AlabamaFloridaGeorgiaKentuckyMississippiNorth CarolinaSouth CarolinaTennessee15OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSSouthwest Region September 2014The Southwest regions unemployment rate remained unchanged from August at 5.3%.Leading the charge in this region was Midland, TX, who had the lowest unemployment rate of 2.6%.McAllen-Edinburg-Mission had the highest rate of unemployment at 8.5%.This region saw great growth in Texas added +30,000 new jobs.
States:ArkansasLouisianaNew MexicoOklahomaTexas16OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSWest Region September 2014The West continued to have high unemployment rate at 6.5% (-0.1 from August).Hawaii had the lowest unemployment rate of 4.2%. Yuma, AZ has the highest unemployment rate in the country, at 25.9% (-3.9% from August).
States:AlaskaArizonaCaliforniaHawaiiIdahoNevadaOregonWashington17OPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLSQuestions?