Download - Adecco USA Job Market Update November 2014

•

Job Market Update

U.S. Economic Data

Reflective of the Bureau of Labor Statistics

“The Employment Situation – November 2014”

As of December 2014

•

Overview of “The Employment Situation”

• The November report showed an overall

monthly gain of 321,000 jobs – 100,000+

more jobs than the previous month

• Unemployment 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 November

274

84

144

222203

304

229

267

212 203

271

243

321

In T

ho

usan

ds

3

* Numbers are seasonally adjusted. Source: BLS

•

Unemployment rate unchanged in November

• Total nonfarm payroll employment

increased by 321,000

- Unemployment rate unchanged at 5.8%

- The number of long-term unemployed

persons was little changed at 2.8 million

- Since November 2013, the number of

unemployed has declined by 1.2 million

• Discouraged workers – 698,000

(unchanged from previous year)

4

JOBS GAINED IN NOVEMBER

UNEMPLOYMENT RATE

LOWEST UNEMPLOYMENT

RATE SINCE

321,000

5.8%

Sept. 2008

•

November’s job creation statistics

• United States private sector generated

over 314,000 jobs in November

- Highest increase in employment within

professional and business services,

retail trade, health care and

manufacturing

5

Source: BLS

•

Industry Breakdown

Professional & Business Services

• Increase of +86,000 jobs

- Temporary 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 care

• Added 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 availability

Temporary Help Services

• 22nd consecutive month of job creation

with increase of +22,700 jobs

• 2.9 million total workforce

6

Source: BLS

•

Industry Breakdown

Leisure & Hospitality

• Increase of +32,00 jobs in November



Manufacturing

• Added +28,000 new jobs

- Plastics and rubber products gained

+7,100 jobs (675,800 total workforce)

- Food manufacturing added +3,600 jobs

(1.47 million total workforce)



Retail

• Added +50,200 jobs in November

- Clothing 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)



• Employment has grown by 290,000

over the last 12 months

7

•

Employment in total non-farm

0

20

28

2.5

50.2

16.7

4

20

86

38

32

22.7

15

7

0 20 40 60 80 100

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, November 2014

8

* Numbers are seasonally adjusted in thousands.

Source: BLS, Current Employment Statistics Survey, November 2014

•

Metropolitan 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).

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OPTIONAL SLIDE

Metropolitan employment data from previous month. Source: BLS

•

Mid-Atlantic Region – October 2014

• Unemployment 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:

- Delaware

- District of Columbia

- Maryland

- Pennsylvania

- Virginia

- West Virginia

10

OPTIONAL SLIDE


•

Midwest Region – October 2014

• The 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 months

• Michigan had the highest

unemployment rate at 7.1 (-0.1 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 – October 2014

• Colorado had the largest

unemployment rate decrease of

2.2% from previous year

• The 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:

- Colorado

- Kansas

- Missouri

- Montana

- Utah

- Wyoming

12

OPTIONAL SLIDE


•

New England Region – October 2014

• The New England region

unemployment rate dropped to

5.9%, a 0.1% decrease

• Rhode 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:

- Connecticut

- Maine

- Massachusetts

- New Hampshire

- Rhode Island

- Vermont

13

OPTIONAL SLIDE


•

New York, New Jersey Region – October 2014

• The 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 York

- New Jersey

- Puerto Rico

14

OPTIONAL SLIDE


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

•

Southeast Region – October 2014

• The Southeast region saw both

positive and negative results

• Florida 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 months

• Florida 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:

- Alabama

- Florida

- Georgia

- Kentucky

- Mississippi

- North Carolina

- South Carolina

- Tennessee

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OPTIONAL SLIDE


•

Southwest Region – October 2014

• The Southwest region’s

unemployment rate remained the

same in the month of October

• Texas 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 2013

• Oklahoma 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:

- Arkansas

- Louisiana

- New Mexico

- Oklahoma

- Texas

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OPTIONAL SLIDE


•

West Region – October 2014

• The 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 year

- However, California has the

highest unemployment rate at

7.3%

• States:

- Alaska

- Arizona

- California

- Hawaii

- Idaho

- Nevada

- Oregon

- Washington

17

OPTIONAL SLIDE


Download - Adecco USA Job Market Update November 2014

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