Download - Adecco USA Job Market Update October 2014

•

Job Market Update

U.S. Economic Data

Reflective of the Bureau of Labor Statistics

“The Employment Situation – October 2014”

As of November 2014

•

Overview of “The Employment Situation”

• The October report showed an overall

monthly gain of 214,000 jobs

• Unemployment 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 October

237

274

84

144

222203

304

229

267

212 203

256

214

13-OCT

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

In T

ho

usan

ds

3

* Numbers are seasonally adjusted. Source: BLS

•

Unemployment rate decreased in October

• Total 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)

4

JOBS GAINED IN OCOTBER

UNEMPLOYMENT RATE

LOWEST UNEMPLOYMENT

RATE SINCE

214,000

5.8%

Sept. 2008

•

October’s job creation statistics

• United 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.

5

Source: BLS

•

Industry Breakdown

Professional & Business Services

• Increase 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

Healthcare

• Added 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 availability

Temporary Help Services

- 21st consecutive month of job creation

- Increase of +15,100 jobs

- 2.9 million total workforce

6

Source: BLS

•

Industry Breakdown

Leisure & Hospitality

• Increase of +41,800 jobs in October


during October: 10 million

Construction

• Added 12,000 new jobs

- Residential 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)


during October: 6 million

Retail

• Added +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).


during October: 15.4 million

• Employment has grown by 249,000

over the last 12 months

7

•

Employment in total non-farm

1

12

15

8.5

27.1

13.3

-4

3

37

41

52

15.1

3

5

-10 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, October 2014

8

* Numbers are seasonally adjusted in thousands.

Source: BLS, Current Employment Statistics Survey, October 2014

•

Metropolitan 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%).

9

OPTIONAL SLIDE

Metropolitan employment data from previous month. Source: BLS

•

Mid-Atlantic Region – September 2014

• Unemployment 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:

- Delaware

- District of Columbia

- Maryland

- Pennsylvania

- Virginia

- West Virginia

10

OPTIONAL SLIDE


•

Midwest Region – September 2014

• The 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:

- Illinois

- Indiana

- Iowa

- Kansas

- Michigan

- Minnesota

- Missouri

- Nebraska

- North Dakota

- Ohio

- South Dakota

- Wisconsin

11

OPTIONAL SLIDE


•

Mountain-Plains Region – September 2014

• The Mountain-Plains region reported

a 5.6% unemployment rate

• Utah had the lowest unemployment

rate of 3.5%.

- Logan, UT reported the lowest


• 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%.

• States:

- Colorado

- Kansas

- Missouri

- Montana

- Utah

- Wyoming

12

OPTIONAL SLIDE


•

New England Region – September 2014

• The New England region

unemployment rate increased to 6%,

a 0.1% increase.

• New Hampshire’s 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:

- Connecticut

- Maine

- Massachusetts

- New Hampshire

- Rhode Island

- Vermont

13

OPTIONAL SLIDE


•

New York, New Jersey Region – September 2014

• The 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


• States:

- New York

- New Jersey

- Puerto Rico

14

OPTIONAL SLIDE


•

Southeast Region – September 2014

• The South region’s 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:

- Alabama

- Florida

- Georgia

- Kentucky

- Mississippi

- North Carolina

- South Carolina

- Tennessee

15

OPTIONAL SLIDE


•

Southwest Region – September 2014

• The Southwest region’s

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:

- Arkansas

- Louisiana

- New Mexico

- Oklahoma

- Texas

16

OPTIONAL SLIDE


•

West Region – September 2014

• The 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:

- Alaska

- Arizona

- California

- Hawaii

- Idaho

- Nevada

- Oregon

- Washington

17

OPTIONAL SLIDE


•

Questions?

Download - Adecco USA Job Market Update October 2014

Top Related