As expected, the United States’ metropolitan employment situation continued to improve in April, according to the BLS’ latest “Metropolitan Area Employment and Unemployment” report. Released on May 29th, the report revealed that, from April 2012 to April 2013, unemployment declined in 276 of the nation’s 372 metro areas.
Every month we aim to be your resource for workplace economic changes and trends. Join us as we take an in-depth look at the current state of the economy & employment as we break down the numbers, explore unemployment trends and a closer look at hiring statistics.
This morning’s Bureau of Labor Statistics (BLS) employment report for the month of May showed positive job growth with the addition of 175,000 positions and a slight change in the unemployment rate to 7.6%.
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On May 1st, financial experts throughout the United States were once again encouraged by the BLS’ latest “Metropolitan Area Employment and Unemployment” report. According to the report, which focused specifically on data from March, national joblessness continued to decelerate, as unemployment was lower in 306 of the nation’s 372 metro areas in March 2013 than it was in March 2012.
At the same time, 157 areas reported jobless rates of less than seven percent, an increase of 44 areas, when compared to March 2012, while 44 areas’ unemployment rates were 10 percent or higher. Unsurprisingly, two of these areas, Yuma, Ariz., and El Centro, Calif., once again documented the country’s highest unemployment rates, at 26 and 23.7 percent, respectively.
On the other hand, for the fourth consecutive month, Midland, Texas, recorded the nation’s lowest jobless rate – 3.1 percent. Meanwhile, on a non-seasonally adjusted basis, 202 metro areas’ unemployment rates were lower than March’s national rate of 7.6 percent, as nonfarm payroll employment rose in 287 metro areas, from March 2012 to March 2013.
In addition, the BLS published the following figures concerning regional inflation and employment.
- Mid–Atlantic: Morgantown, W.Va.’s jobless rate decreased for the second straight month in March, from 5.6 to 4.8 percent, as total unemployment declined to 3,300, the lowest monthly figure recorded since November 2012. Although the civilian labor force also deteriorated, employment did increase, rising to 64,100. (Link: http://www.bls.gov/eag/eag.wv_morgantown_msa.htm)
- Midwest: The greater Chicago area’s Consumer Price Index for All Urban Consumers (CPI-U) and Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) rose by 0.9 and 0.8 percent, respectively, from March 2012 to March 2013. (Link: http://www.bls.gov/eag/eag.il_chicago_md.htm)
- Mountain-Plains: From March 2012 to March 2013, hiring upturned within a majority of the greater Denver, Colo., area’s private sectors. The rise in employment was mostly pertinent within the education and health services and professional and business services sectors, however, increasing by 4.3 percent. (Link: http://www.bls.gov/eag/eag.co_denver_msa.htm)
- New England: After rising considerably in January, New Haven, Conn.’s unemployment rate has steadily decreased ever since, declining from 8.8 percent in February to 8.5 percent in March. Although total employment rose by 1,100, 26,000 residents were without work in March, the lowest monthly total of the first quarter. (Link: http://www.bls.gov/eag/eag.ct_newhaven_mn.htm)
- New York–New Jersey: Since rising to 9.4 percent in January, the greater New York City area’s jobless rate has begun to decline, falling to 8.1 percent in March. During that time span, the city’s employment situation has vastly improved, as 17,400 more New Yorkers were employed in March than in January. (Link: http://www.bls.gov/eag/eag.ny_newyork_msa.htm)
- Southeast: Hiring increased in most of Charleston, S.C.’s private sectors from March 2012 to March 2013, including finance, information, and leisure and hospitality. Within those three sectors alone, employment rose by 2.2, 4.2, and 1.6 percent, respectively. Of note, government employment also increased, by 2.9 percent. (Link: http://www.bls.gov/eag/eag.sc_charleston_msa.htm)
- Southwest: Despite rising slightly in February, to 7.6 percent, Albuquerque, N.M.’s jobless rate diminished in March, declining to 7.1 percent. In all, 28,200 residents were unemployed, a decrease of 2,000, in comparison to February, while 368,500 were employed, either part-time or full-time. (Link: http://www.bls.gov/eag/eag.nm_albuquerque_msa.htm)
- West: The greater Los Angeles area’s CPI-U and CPI-W each increased by 1.3 percent from March 2012 to March 2013. (Link: http://www.bls.gov/eag/eag.ca_losangeles_md.htm)
This morning’s Bureau of Labor Statistics (BLS) employment report for the month of April showed encouraging data with the addition of 165,000 jobs and a slightly changed, but lower, unemployment rate of 7.5%. Positive revisions to the February report — initially strong at 268,000 — increased the total to 332,000 jobs, while growth was seen in the March numbers with the BLS adding an additional 50,000 jobs to the economy, totaling 138,000 – more in line with 2013 growth trends.
After last month’s report, economists projected that hiring and the jobs report would be weak for the second time in a row; however April’s growth rebounded with the private sector adding 176,000 jobs. Additionally, the number of long-term unemployed individuals (those jobless 27 weeks or longer) declined by 258,000 and private sector job creation totaled 176,000.
A number of sectors saw gains including professional and business services (+73,000), healthcare (+19,000), retail (+29,300), financial services (+9,000) and leisure and hospitality (+43,000). Temporary help services also saw an increase in April (+31,000); a sign employers are opting for temporary help in an effort to expand and meet business needs.
Government job cuts are seemingly one of the larger hits on the economy of late – a trend that was seen consistently throughout the recession – showing a loss of 11,000 jobs in April. There will be a close watch on the long term effects of the government sector on the economy as job cuts continue. The significant increase in job additions after a weak March report is a positive sign that job growth is remaining relatively consistent month over month, which should calm some of the unease that came with last month’s numbers.
Adecco is seeing an increased demand for workers in business and professional services, retail, IT, mortgage, banking and the consistently growing healthcare industry. The demand for temporary workers continues to be strong, with long term, temporary assignments on the rise. As 2013 progresses, it seems that the economy is continuing to improve.
Check out our informative video which breaks down the numbers from this month’s jobs report and explores the current youth unemployment issue.
After a near two-month hiatus, the BLS released its latest “Metropolitan Area Employment and Unemployment” report on March 22nd – the first report of the year to focus on 2013 employment data. As usual, the report was encouraging, as a majority of the United States’ metro areas recorded lower unemployment rates in January 2013 than in January 2012.
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This morning’s Bureau of Labor Statistics (BLS) employment report for the month of March showed an addition of 88,000 jobs and a slightly lowered unemployment rate of 7.6%. Positive revisions to the January and February reports added an additional 61,000 jobs to the economy than previously thought.
There were a number of sectors with gains including construction (+18,000), professional and business services (+51,000), healthcare (+23,400) and leisure and hospitality (+17,000). Temporary help services also saw an increase (+20,300), a sign that employers may be opting to continue hiring temporary, or temporary to hire employees rather than making immediate permanent hires.
The report was a bit of a mixed bag, with many economists anticipating job growth closer to the 195,000 range. The private sector gained 95,000 jobs last month, but overall increases were tempered by losses in the public sector—particularly within the U.S. Postal Service, retail and trade, transportation and utilities. The slightly downward unemployment rate came from Americans who either put their job search on hold, or stopped looking for work in March.
In the last year, hiring growth has averaged 169,000 jobs per month. This report is certainly a sign that while progress is being made in the jobs landscape, there will continue to be bumps in the road. It’s now more apparent than ever that growth will be a long incline rather than quick spurts towards total recovery.
At Adecco, we’re seeing an ongoing demand for temporary help with an increasing amount of our temporary positions becoming permanent ones. Additionally, we continue to see a demand for skilled labor in areas such as business and professional services, IT and engineering.