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

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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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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

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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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