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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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

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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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Latest BLS Regional & State Unemployment Figures Released

Jobs report: in your regionSource: BLS

In February, the U.S. unexpectedly added 175,000 jobs to the economy — which was the first time since November that more than 129,000 jobs were added. The majority of U.S. states followed suit to the national surge. In total, nonfarm payroll employment increased in 33 states and decreased in 17 states, plus the District of Columbia.

Looking closer at February unemployment rates, 29 states saw decreases from January, 10 had increases, while 11 states plus the District of Columbia stayed the same. Impressively, 49 states plus the District of Columbia realized unemployment rate decreases from the previous year—further proof that the U.S. economy is strengthening at a steady, yet prolonged pace.

Regionally, the West had the highest unemployment rate in February—reporting at 7.2 percent—0.5 percent higher than the national rate. The South showed the lowest unemployment rate of 6.1 percent. Over the course of the year all four regions had remarkable unemployment rate declines—with the South and Northeast dropping 1.2 percent each, the West decreasing 1.1 percent, and the Midwest shedding 0.8 percentage points.

Here are some key divisional highlights from the “Regional and State Employment and Unemployment Summary — February 2014”:
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