The Professional & Business Services Sector Leads December’s Job Growth

Posted on

October US Jobs Report

Source: The U.S. Bureau of Labor Statistics “The Employment Situation – December 2014″ 

Employment gains were highest in professional and business services, construction, food services and drinking places, healthcare and manufacturing. Here are some key sector highlights from the BLS “The Employment Situation – December 2014” report:

Professional and Business Services

This industry reported 52,000 added jobs to the economy (19.5 million total workforce), for a total of 732,000 year-over-year growth. The employment services subsector continued its upward trend with 16,200 new jobs (3.7 million total workforce), with 14,700 jobs coming from the temporary help services subsector (2.9 million total workforce). Administrative and support services added 34,400 jobs (8.5 million total workforce). Computer Systems and design services added 9,000 new jobs.

Retail

After adding 56,000 jobs in November and 34,200 in October, the retail trade industry added a mere 7,700 jobs in November. Total employed in this sector has reached 15.5 million and over the last 12 months employment has grown by 250,000. Within the industry, motor vehicle and parts dealers added 6,000 jobs (1.8 million total workforce), food and beverage stores grew by 5,700 jobs (3 million total workforce) and clothing and clothing accessories stores lost 8,900 jobs (1.3 million total workforce). 

Leisure and Hospitality

Once again, this industry reported strong growth in the food services and drinking places subsector (10.8 million total workforce), which added 43,600 jobs – compared with 32,000 jobs added from October to November. The trend of strong job growth in this industry is typical for the fourth quarter, although it will likely decrease in the first quarter of 2015.

Healthcare

After an addition of 24,500 jobs in November, the healthcare industry added 34,100 jobs in December. This is well above the 12-month average increase of 20,000 jobs. Within this sector, ambulatory services generated 16,200 jobs (6.8 million total workforce), home health services grew 4,200 jobs (1.3 million total workforce) and hospitals grew 7,000 jobs (4.8 million total workforce). This growth indicates that the healthcare industry is at an all-time high in terms of job availability.

Construction

This sector saw a significant spike in job growth with the addition of 48,000 jobs in December (6 million total workforce). Within the sector, nonresidential specialty trade contractors gained 12,800 jobs (2 million total workforce) and heavy and civil engineering construction also saw an increase of 11,600 jobs (937,000 total workforce). 

Manufacturing

The manufacturing industry added 17,000 jobs in December, with most of that growth coming from durable goods (7.7 million total workforce).

Temporary Help Services

This job sub-sector is still on the rise, reporting its 23rd consecutive month of job creation in December – with an increase in employment of 14,700. This brings the yearly growth up to 217,000. Since December 2013, this sector has kept an average of 2.9 million people employed.

Contributor

While she’s settling down in the Sunshine State, Meredith is a Carolina girl by birth. She earned her Master’s from the College of Charleston, but NC State will always be #1 in her heart. In the world of Adecco Group marketing, she writes thought leadership content and sends emails. Her life-long dream is to sail around the world with her husband and dog.

Comments are closed.