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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June BLS Report: 288,000 Jobs Added, Jobless Rate Drops 0.2%

201302-wpe-post-header

Source: June 2014 BLS report

The U.S. Bureau of Labor Statistics released its June 2014 unemployment report, which showed an overall monthly gain of 288,000 jobs, considerably higher than the 215,000 economists were expecting. The unemployment rate also saw an impressive decline of 0.2 percentage points, dropping from 6.3% to 6.1%, which is the lowest we’ve seen since September 2008.

This data confirms the continuation of positive job growth in 2014. June is now the fifth straight month in a row in which we’ve seen gains in 200,000+ new jobs, and the unemployment rate is also steadily declining.

Revisions to prior months showed 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.
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Metropolitan Employment Improving Across the Country

Jobs report: in your region

Sources: Metropolitan Area Employment and Unemployment Report – April 2014Regional and State Employment and Unemployment – April 2014

The national BLS “The Employment Situation — May 2014” report showed a surge in employment, adding 217,000 new jobs to the economy, the fourth straight month to show 200,000+ job gains. Economists are hopeful that this continual upswing will prove to be permanent recovery from the Great Recession.

Both regional and state unemployment rates continued to fall for the majority of the Unites States metropolitan areas, according to the BLS’ latest “Metropolitan Area Employment and Unemployment” report.

In April, the national unemployment rate fell 0.5 percentage points to 6.3, a whopping 1.2 percentage points lower than the previous year. 357 of the 372 areas showed a lower unemployment rate from the April 2013 number. Only 12 metro areas reported higher unemployment (18 less than the previous year), while 3 showed unchanged data (compared to 14 last year).

Looking deeper into the April metro area numbers, Bismark, North Dakota — at 2.6 percent —led the nation with the lowest unemployment rate. In total, 19 states had jobless rates significantly lower than the US figure of 6.3, while 7 states and DC had higher rates, and 24 states had rates that were not measurably different than the national average.

In other positive news, employment increased in 302 of 372 metropolitan areas, decreased in 63 areas and was unchanged in 7 areas. Additionally, 30 of the 32 metropolitan divisions had over-the-year employment gains and 2 had losses since April 2013. The largest over-the-year percentage increase in employment among these divisions occurred in Dallas-Plano-Irving, Texas (+4.2 percent), followed by Fort Lauderdale-Pompano Beach-Deerfield Beach, Florida and Miami-Miami Beach-Kendall, Florida (+3.3 percent each).

Here are some key regional highlights from the BLS “Metropolitan Area Employment and Unemployment — April 2014 report:
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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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