May BLS jobs report: Industry breakdown

201302-wpe-post-headerSource: BLS jobs report

In May, the United States generated 217,000 new jobs, returning our employment rate back to pre-recession conditions. With this growth, the US has more jobs than it has seen in over four years – claiming 8.8 million new jobs since January 2008. The unemployment rate remained the same at 6.3 percent — this, following a 0.4 percentage decline in April. Over the year, the unemployment rate has dropped 1.2 percentage points, or 1.9 million people respectively.

In April, job growth continued to surpass 200,000 new jobs, improving upon March’s milestone of 175,000. Employment gains were widespread across sectors, and the professional and business services saw the largest increase, with an addition of 75,000 jobs. Temporary help continued its upward trend, gaining an average of 2.85 million jobs over the last year. Revised numbers were released in May, showing that we had gains of 282,000 jobs in April, not 288,000.

Employment gains were widespread across sectors with the highest gains led by professional and business services, healthcare and leisure and hospitality.Here are some key sector highlights from the BLS “The Employment Situation – May 2014” report:

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May BLS report: 217,000 jobs added, jobless rate unchanged

201302-wpe-post-headerSource: May 2014 BLS report

The U.S. Bureau of Labor Statistics released its May 2014 unemployment report, which showed an overall gain of 217,000 jobs and the unemployment rate holding at 6.3% after last month’s drop of 0.4%. This data confirms a rebound of economic conditions from the winter slowdown.

With these gains, employment has now exceeded its pre-recession levels. Between January 2008 and February 2010, 8.7 million jobs were lost. But in just over four years, employment has slowly risen by 8.8 million.

Revisions to prior months showed that March remained at 203,000 jobs added and April subtracted 6,000 jobs from last month’s report bringing it down to a still impressive 282,000 jobs added. Gains for total nonfarm payroll employment has averaged 197,000 new jobs per month over the last 12 months.
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April’s job creation widespread across industries

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Source: BLS jobs report

The United States generated 288,000 jobs in April, making it the 50th straight month of positive job creation. These figures surpassed many of the expert predictions, as most anticipated 190,000 to 210,000 would be added. The unemployment rate fell 0.4 percent to 6.3 percent — the lowest it has been since 2008 — but was offset by a significant drop in the labor participation rate.

In March, job growth had revealed a milestone in the U.S. economy. Private sector jobs had recouped 8.9 million jobs since February 2010. This exceeded the employment figures of December 2007, which were the pre-recession peak levels. In April, the private sector contributed 273,000 new jobs, while government employment rose by 15,000.

Employment gains were widespread across sectors and were led by professional and business services, retail, food services and construction. Here are some key sector highlights from the BLS “The Employment Situation – April 2014” report.
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April BLS report: 288,000 jobs added, drop in unemployment

201302-wpe-post-header

Source: BLS

The U.S. Bureau of Labor Statistics released its April 2014 unemployment report, which showed an overall gain of 288,000 jobs and the unemployment rate dropping a sizable 0.4%, bringing the total figure down to 6.3%. This data shows a strong rebound in economic conditions from the winter slowdown. In addition, revisions to prior months showed that February added 222,000 jobs (up from 197,000), and February grew 203,000 jobs (from 192,000). With these revisions, gains in employment for those two months were actually 36,000 higher than previously reported, and job growth has averaged 190,000 new jobs per month over the last 12 months.
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March BLS jobs report: Industry review

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Source: March BLS jobs report

The United States’ private sector generated over 192,000 jobs in March. Although the sector’s total job creation was not nearly high enough to lower the national unemployment rate, a majority of economists were encouraged by the figures.

This growth revealed a milestone of job creation, as private sector jobs added in March exceeded the employment figures of December 2007, its pre-recession peak levels. This milestone can be considered meaningful, and a step in the right direction.

But while the private sector has recouped 8.9 million jobs since February 2010, U.S. government jobs have not recovered since the recession began. Unfortunately, this has stumped overall growth and has resulted in a total nonfarm employment figure of 422,000 jobs below its December 2007 pre-recession level.

Overall growth aside, here are some key sector highlights from the BLS “The Employment Situation – March 2014” report:
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March BLS jobs report shows economy added 192,000 jobs

201302-wpe-post-header

Source: BLS

The U.S. Bureau of Labor Statistics released its March 2014 unemployment report, which shows an overall gain of 192,000 jobs and the unemployment rate holding at 6.7%. This data shows that employers are ramping up their hiring and that the winter slowdown was only temporary. In addition, revisions to prior months showed that January added 144,000 jobs (up from 129,000), and February grew 197,000 jobs (from 175,000). With these revisions, gains in employment for those two months were actually 37,000 higher than previously reported, and job growth has averaged 183,000 new jobs per month over the last 12 months.
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