Adecco USA Job Market Update September 2014
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DESCRIPTIONAdecco USA Job Market Update September 2014
- 1. Job Market UpdateU.S. Economic DataReflective of the Bureau of Labor StatisticsThe Employment Situation September 2014As of October 2014
2. Overview of The Employment Situation The September report showed an overallmonthly gain of 248,000 jobs considerably higher than last monthsgain of 142,000. Revisions to prior months, July & August:- July and August experienced more growththan previously reported.- The July payroll number was revised from+212,000 to +243,000.- The August numbers were revised from+142,000 to +180,000.- That makes a combined 69,000 more jobsthan expected.2 3. 248,000 new jobs added in September20216423727484144222203304229267212142248In Thousands3* Numbers are seasonally adjusted. Source: BLS 4. Unemployment rate decreased in September Total nonfarm payroll employmentincreased by 248,000.- Unemployment rate dropped, from 6.1% to5.9%.- Unemployment rate and the numbers ofunemployed persons have declined by 1.3%,(1.9 million) in the last year. Discouraged workers Down by 154,000from September 2013.4JOBS GAINED IN SEPT.248,000UNEMPLOYMENT RATE5.9%LOWEST UNEMPLOYMETRATE SINCESept. 2008 5. Septembers job creation statistics United States private sector generatedover 236,000 jobs in September.- Employment rate back to pre-recessionconditions.- US has more jobs than in over fouryears.5Source: BLS 6. Industry BreakdownProfessional & Business Services Increase of 81,000 jobs (+34,000 fromthe previous month).- Management and technical consultingservices added 11,500 jobs (1.25 milliontotal workforce).- Architectural and engineering servicescreated 6,000 jobs (1.42 million totalworkforce). Total Americans employed in this sectorduring September: 19.41 million.Healthcare Added 22,600 jobs during September.- Ambulatory services generated 14,200 jobs(6.73 million total workforce).- Home health services grew 6,800 jobs(1.29 million total workforce).- Hospitals grew 6,200 jobs (4.81 milliontotal workforce).Temporary Help Services- 20th consecutive month of jobcreation.- Increase of +19,700 jobs.- 2.93 million total workforce.6Source: BLS 7. Industry BreakdownManufacturing Increase of 4,000 jobs in September afterAugusts growth of 28,000 new jobs. Total Americans employed in this sectorduring September: 12.15 million.Construction Added 16,000 new jobs.- Specialty trade contractors gained 8,800jobs (3.78 million total workforce).- Construction of buildings also saw anincrease of 6,200 jobs (1.37 million totalworkforce). . Total Americans employed in this sectorduring September: 6.07 million.Retail Added 35,300 for a total employed of15.4 million .- Food and beverage stores grew by 19,500jobs (3 million total workforce).- General merchandise stores added 5,400jobs (3.14 million total workforce).- Sporting goods, hobby, book and musicstores added 5,300 jobs (592,300 totalworkforce).7 8. Employment in total non-farmOver-the-month change, September 201491641.835.31.9121281323319.70120 20 40 60 80 100Mining and loggingConstructionManufacturingWholesale tradeRetail tradeTransportation and warehousingInformationFinancial activitiesProfessional and Business servicesEducation and health servicesLeisure and hospitalityTemporary help serviesOther servicesGovernment8* Numbers are seasonally adjusted in thousands.Source: BLS, Current Employment Statistics Survey, September 2014 9. OPTIONAL SLIDEMetropolitan employment improving across the country August2014 Regional and state unemployment rates saw little change in the United Statesmetropolitan areas.- Overall unemployment changes have been positive, with forty-five states and the District ofColumbia showing unemployment rate decreases over the past 12 months. In August, the national unemployment rate showed little change, dropping just0.1% to 6.2%, which is 1.1% lower than August 2013.- Bismarck, North Dakota continues to lead the nation with the lowest unemployment rate at 2.2percent, a decline of 0.2 percentage points from July.- Of the 322 metropolitan areas, eleven areas had jobless rates of at least 10.0 percent and 84areas had rates below 5.0 percent. The rest hovered around the national average.- In other positive news, employment increased in 306 of 372 metropolitan areas, decreased in 57areas and was unchanged in 9 areas.- Looking at the past year, the largest over-the-year employment increases occurred in New York,Northern New Jersey, Long Island, N.Y., N.J.- Pa. (+156,500), Houston-Sugar Land-Baytown,Texas (+107,400) and Dallas-Fort Worth-Arlington, Texas (+101,500).9Metropolitan employment data from previous month. Source: BLS 10. Mid-Atlantic Region August 2014 Unemployment rate of 6.3 percent(the same as July). Philadelphia City, PA had the largestrate decline from a year earlier (-2.2percentage points).- Tied for the highest unemploymentrate in the region with 8.4 percent,along with Danville, VA. Morgantown, WV reported the lowestunemployment rate at 4.9 percent. States:OPTIONAL SLIDE- New Jersey- New York- PennsylvaniaMetropolitan employment data from previous month. Source: BLS10 11. Midwest Region August 2014 Impressive unemployment rate of 5.8percent (-0.1 percent). North Dakota had the lowestunemployment rate of 2.8 percent.- Bismarck, North Dakota had thelowest unemployment rate withan impressive 2.2 (-0.2percentage points from theprevious month). Michigan had the highestunemployment rate at 7.4 (-0.3 fromthe previous month). States:OPTIONAL SLIDE- Illinois- Indiana- Iowa- Kansas- Michigan- Minnesota- Missouri- Nebraska- North Dakota- Ohio- South Dakota- WisconsinMetropolitan employment data from previous month. Source: BLS11 12. Mountain-Plains Region August 2014 Nevada had the largestunemployment rate decrease in theregion with a 2.2 percent decreasefrom the previous year.- However, the state came in last inthe region with 7.6 percentunemployment (-0.1 percentagepoints from the previous month). Yuma, AZ continues to have thehighest unemployment rates in thecountry, with 28.0 percent (-1.3percentage points from the previousmonth). States:OPTIONAL SLIDE- Alaska- Arizona- California- Colorado- Hawaii- Idaho- Montana- Nevada- New Mexico- Oregon- Utah- Washington- WyomingMetropolitan employment data from previous month. Source: BLS12 13. New England Region August 2014 5.9% unemployment, a 0.1 percentincrease. Vermonts Burlington-SouthBurlington metro area recorded thelowest unemployment rate of theregion, as it dropped 0.1 percent to3.5 percent in August. The highest unemployment rate in theregion came in at Lawrence-Methuen-Salem MA, NH with 10.3 percent. States:OPTIONAL SLIDE- Connecticut- Maine- Massachusetts- New Hampshire- Rhode Island- VermontMetropolitan employment data from previous month. Source: BLS13 14. Southeast Region August 2014 Increased 0.2 percent from 6.1 to 6.3percent. Kentucky (-1.3 percentage points)and North Carolina (-1.2 percentagepoints) had the largestunemployment rate declines. Florida had one of the largest over-the-month employment increases(+22,700 new jobs).- Crestview-Fort Walton Beach-Destin, FL tied had the lowestunemployment rate in the regionwith a showing of 4.9 percent. States:OPTIONAL SLIDE- Delaware- District of Columbia- Florida- Georgia- Maryland- North Carolina- South Carolina- Virginia- West Virginia- East South Central- Alabama- Kentucky- Mississippi- TennesseeMetropolitan employment data from previous month. Source: BLS14 15. Southwest Region August 2014 Unemployment rate increased slightlyto 5.3 percent. This region saw great growth in Texas adding 20,100 new jobs. Oklahoma had the lowestunemployment rate of 4.7 percent. McAllen-Edinburg-Mission had thehighest rate of unemployment at 9.8percent. States:- Arkansas- Louisiana- Oklahoma- TexasOPTIONAL SLIDEMetropolitan employment data from previous month. Source: BLS15 16. West Region August 2014 Highest unemployment rate in thecountry at 6.6 percent. Utah has the lowest unemploymentrate of 3.6 percent.- Logan, UT had 3.1 percent. California has the largest monthly jobincrease by adding 44,200 in August,and 313,900 since August of 2013.- El Centro, CA continues to havethe highest unemployment rate at25.1 percent. States:OPTIONAL SLIDE- Alaska- Arizona- California- Colorado- Hawaii- Idaho- Montana- Nevada- New Mexico- Oregon- Utah- Washington- WyomingMetropolitan employment data from previous month. Source: BLS16 17. Questions?