Job Market Update: 2.8 Million New Jobs Created in 2014

Job-Market-Today

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

The year finished strong in terms of job growth, as December brought 252,000 new jobs to the U.S. economy. The U.S. Bureau of Labor Statistics released its December 2014 unemployment report, and the greatest job gains occurred in professional and business services, construction, food services and drinking places, healthcare and manufacturing. In 2014, job growth averaged 246,000 per month, which is a remarkable improvement over the average monthly gain of 194,000 jobs in 2013. Since December of last year, a total of 2.95 million jobs have been added to the U.S. economy.

In other good news, the unemployment rate declined to 5.6 percent, after remaining at 5.8 percent in the previous two months. This is the lowest rate we’ve seen since September, 2008.
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November Metro/Regional Report: Employment Increasing Across the Nation

BLS-regional-metro-data-on-BLS-employment-reportThe national BLS “The Employment Situation report – November 2014” showed an impressive surge in employment, adding 321,000 new jobs to the economy – 100,000+ more jobs than the previous month. This upswing has economists hopeful that growth will continue as we round out the year.

Looking to the BLS’s latest “Metropolitan Area Employment and Unemployment report – October 2014”, we see that unemployment rates have been steadily declining throughout 2014. Compared to this time last year, US unemployment rates are lower in 354 of the 372 metropolitan areas. The national unemployment rate is also 1.2 percentage points lower than it was October 2013, coming in at 5.8 points. Overall, unemployment changes have been positive, with forty-two states and the District of Columbia showing unemployment rate decreases over the past 12 months. 
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November’s Holiday Hiring Trends: Retail & Temporary Help Services On the Rise

October US Jobs ReportThe U.S. Bureau of Labor Statistics “The Employment Situation – November 2014″ 

In November, the United States generated 321,000 new jobs, the largest employment increase of the year. Although it was a huge jump in growth, the unemployment rate remained the same — stagnating at 5.8 percent, which is still the lowest we’ve seen since September, 2008. Over the past year, the unemployment rate has declined by 1.2 percentage points and the unemployed persons by 1.7 million.

As we round out the year, job growth is remaining steady, improving upon the third quarter’s success. Revised numbers were released, showing that both September and October experienced combined growth of 44,000 more than previously reported. The September payroll number was revised from +256,000 to +271,000 and the October numbers were revised from +214,000 to +243,000. 
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Job Market Update: November Sees Largest Employment Increase of the Year

Job-Market-Today

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

November not only met, but exceeded, our expectations with one of the largest increases of employment over the past few years. The U.S. Bureau of Labor Statistics released its November 2014 unemployment report, showing an overall monthly gain of a whopping 321,000 jobs – 100,000+ more jobs than the previous month. January remains the only month of 2014 with job gains below 200,000. In total, since the beginning of the year 2.6 million jobs have been added to the US economy.

The unemployment rate remained unchanged at 5.8 percent, which is still the lowest rate we’ve seen since September 2008.
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Job Market Update: Food & Beverage sector was #1 in Job Growth in October

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In October, the United States generated 214,000 new jobs, slightly less than last month’s gain of 256,000. The unemployment rate declined by 0.1 percentage point — dropping from 5.9 percent to 5.8 percent – which is the lowest we’ve seen since September 2008. Over the past year, the unemployment rate and number of unemployed persons have declined by 0.8 percentage point and 1.2 million, respectively.

Revised numbers from past months were released, showing that both August and September experienced combined growth of 31,000 more than previously reported. The September payroll number was revised from +248,000 to +256,000 and the August number was revised from +180,000 to +203,000. That makes a combined 31,000 more jobs than initially reported. This year, the only month that saw fewer than 200,000 new jobs was January.

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Job Market Update: Latest Metro and Regional Unemployment Data

BLS-regional-metro-data-on-BLS-employment-reportThe U.S. Bureau of Labor Statistics released its October 2014 unemployment report, showing an overall monthly gain of 214,000 jobs. This number is lower than what economists expected, but not bad considering the average monthly gains for the 12 months leading up to October were 222,000. January is now the only month of 2014 with job gains below 200,000. In total, since the beginning of the year nearly 2.3 million jobs have been added to the US economy.

The unemployment rate also declined by 0.1 percentage points, dropping from 5.9 percent to 5.8 percent, which is the lowest rate we’ve seen since September, 2008.

Regional and State Report

Looking to the BLS’ latest “Regional and State Employment and Unemployment” report, both regional and state unemployment rates saw little change in the United States during the month of September. 31 states had unemployment rate decreases from August, eight states had increases, and 11 states and the District of Columbia had no change. 42 states and the District of Columbia had unemployment rate decreases from a year earlier, five states had increases, and three states had no change.
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