Job Growth in August Was Slow Compared to Previous Months

Job-Market-TodaySource: BLS “The Employment Situation report – August 2014”

The United States saw an additional 142,000 jobs created in nonfarm payroll employment during the month of August, according to the latest Bureau of Labor Statistics (BLS) unemployment report.  Both professional and business services and healthcare saw the highest employment gains.

The total number of job gains came in under what economists expected, as many had forecasted another month of 200,000+ new jobs. Traditionally, August has always been a lower month in payroll additions, and often has a high number of revisions, so experts are noting that changes could be in store in next month’s report.

The unemployment rate changed little – dropping from 6.2 to 6.1 percent from the month prior. August breaks the six-month streak of 200,000+ job gains, but over the year, the unemployment rate and the number of unemployed persons are down by 1.1 percentage points and 1.7 million, respectively.

The June report was revised from +298,000 to +267,000, and the July payroll was revised from +209,000 to +212,000—28,000 fewer jobs than reported.

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July’s Job Creation Less Than Expected, But Still Steady

Job-Market-TodayIn July, employment gains were widespread across sectors. The industries with the highest gains were professional and business services, manufacturing, retail trade and construction. Here are some key sector highlights from the BLS “The Employment Situation – July 2014” report:

Professional and Business Services

The industry that showed the highest job growth in July was professional and business services, adding 47,000 jobs to the economy, making the year-over-year total 648,000 jobs. Subsectors such as architectural and engineering services added 8,800 jobs (1.42 million total workforce), administrative and support services created 14,900 jobs (8.37 million total workforce) and temporary help services generated 8,500 jobs (2.88 million total workforce). In total, 19.23 million Americans were employed within this sector last month.
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While Most Metropolitan Areas Show Improvement, the West Continues To Have the Highest Unemployment in the US

metro-regional-data-on-employment-from-the-BLS-report

“The Employment Situation — July 2014” national BLS report showed a continuation of monthly job gains, adding 209,000 new jobs to the economy. This marks the sixth straight month we’ve seen increases of 200,000+ jobs.

Both regional and state unemployment rates saw little change in the United States metropolitan areas, according to the BLS’ latest “Metropolitan Area Employment and Unemployment” report. In June, the national unemployment rate declined slightly to 6.1 percent – 1.4 percentage points lower than a year earlier. In fact, forty-nine states and the District of Columbia have seen unemployment rate decreases over the past year.

Looking deeper into the June metro area numbers, Bismarck, North Dakota once again led the nation with the lowest unemployment rate — now at 2.6 percent, an increase of 0.4 percentage points from May. Of the 372 metropolitan areas, 10 had jobless rates of at least 10 percent, whereas 74 areas had rates of less than 5.0 percent.

In other positive news, unemployment decreased in 359 of 372 metropolitan areas, increased in 10 areas and was unchanged in 3 areas. Additionally, each of the 34 metropolitan divisions had over-the-year employment gains since June 2013. The largest over-the-year percentage increase in employment among these divisions occurred in Orlando-Kissimmee-Sanford, Fla. (+3.7 percent), followed by Austin-Round Rock-San Marcos, Texas and Dallas-Fort Worth-Arlington, Texas (+3.6 percent each).

Here are some key regional highlights from the BLS “Metropolitan Area Employment and Unemployment — June 2014” report:
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July BLS Report: 209,000 Jobs Added to US Economy

Job-Market-Today

Source: July 2014 BLS report

The U.S. Bureau of Labor Statistics released its July 2014 unemployment report, which showed an additional 209,000 jobs created in nonfarm payroll employment. The unemployment rate saw a small increase, rising from 6.1 percent to 6.2 percent.

July marks the sixth straight month in which we’ve seen gains of 200,000+ new jobs, confirming the continuation of positive economic growth in 2014. In the last year, the unemployment rate and the number of unemployed persons have declined by 1.1 percentage points, and 1.7 million, respectively.
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Metropolitan Employment Showing Improvement Nationwide

Jobs report: in your regionSources: Metropolitan Area Employment and Unemployment Report – May 2014Regional and State Employment and Unemployment – May 2014

The national BLS “The Employment Situation — June 2014” report showed another surge in employment, adding 288,000 new jobs to the economy, the fifth straight month to show 200,000+ job gains.  Economists are hopeful that this upswing will continue as we enter the third quarter.

Both regional and state unemployment rates saw little change in the United States metropolitan areas, according to the BLS’ latest Metropolitan Employment and Unemployment report. In May, the national unemployment rate held at 6.3 percent after April’s drop of 0.4 percent, proving to be 1.2 percentage points lower than it had been a year earlier. In fact, forty-nine states and the District of Columbia have seen unemployment rate decreases over the past year.
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June’s Jobs Report Shows Widespread Growth Across Industries

201302-wpe-post-headerSource: BLS June jobs report

In June, the United States generated 288,000 new jobs, making it the fifth straight month in which we’ve seen job gains of 200,000+. The positive news continued as the unemployment rate declined by 0.2 percentage points — dropping from 6.3% to 6.1%, which is the lowest we’ve seen since September 2008. Over the past year, the unemployment rate has declined by 1.4 percentage points and the unemployed persons by 2.3 million.

In May, job growth had continued to over 200,000 new jobs, improving upon March and April’s success. Revised numbers were released in June, showing that both April and May had seen growth of 29,000 more than previously reported. The May payroll number was revised from +217,000 to +224,000 and the April numbers were revised from +282,000 to +304,000.

This month, employment gains were widespread across sectors, and the professional and business services saw the largest increase, with an addition of 67,000 jobs. Temporary help services also continued its upward trend, gaining an average of 2.16 million jobs over the last year.

Employment gains were widespread across sectors with the highest gains led by professional and business services, retail trade and food services and drinking places. Here are some key sector highlights from the BLS “The Employment Situation – June 2014” jobs report:
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