Adecco USA Job Market Update November 2014
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Transcript of Adecco USA Job Market Update November 2014
•
Job Market Update
U.S. Economic Data
Reflective of the Bureau of Labor Statistics
“The Employment Situation – November 2014”
As of December 2014
•
Overview of “The Employment Situation”
• The November report showed an overall
monthly gain of 321,000 jobs – 100,000+
more jobs than the previous month
• Unemployment rate remained unchanged
at 5.8%
• Revisions to prior months:
- September & October experienced more
growth than previously reported.
- The September payroll number was
revised from +256,000 to +271,000.
- The October number was revised from
+214,000 to +243,000.
- That makes a combined 44,000 more jobs
than previously reported
2
•
321,000 new jobs added in November
274
84
144
222203
304
229
267
212 203
271
243
321
In T
ho
usan
ds
3
* Numbers are seasonally adjusted. Source: BLS
•
Unemployment rate unchanged in November
• Total nonfarm payroll employment
increased by 321,000
- Unemployment rate unchanged at 5.8%
- The number of long-term unemployed
persons was little changed at 2.8 million
- Since November 2013, the number of
unemployed has declined by 1.2 million
• Discouraged workers – 698,000
(unchanged from previous year)
4
JOBS GAINED IN NOVEMBER
UNEMPLOYMENT RATE
LOWEST UNEMPLOYMENT
RATE SINCE
321,000
5.8%
Sept. 2008
•
November’s job creation statistics
• United States private sector generated
over 314,000 jobs in November
- Highest increase in employment within
professional and business services,
retail trade, health care and
manufacturing
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Source: BLS
•
Industry Breakdown
Professional & Business Services
• Increase of +86,000 jobs
- Temporary help services services created
+23,000 jobs (2.97 million total workforce)
- Accounting and bookkeeping added
+16,000 jobs (990,000 total workforce)
- Management and technical consulting
services added +7,000 jobs (1.26 million
total workforce)
• Total Americans employed in this sector
during November: 19.52 million
Health care
• Added 28,900 jobs during November
(+261,000 positions over 12 months)
- Ambulatory services generated +24,300
jobs (6.77 million total workforce).
- Offices of physicians grew +6,600 jobs
(2.52 million total workforce)
- Home health care services grew +5,000
jobs (1.31 million total workforce)
• Health care industry is at an all-time high
in terms of job availability
Temporary Help Services
• 22nd consecutive month of job creation
with increase of +22,700 jobs
• 2.9 million total workforce
6
Source: BLS
•
Industry Breakdown
Leisure & Hospitality
• Increase of +32,00 jobs in November
• Total Americans employed in this sector
during November: 14.79 million
Manufacturing
• Added +28,000 new jobs
- Plastics and rubber products gained
+7,100 jobs (675,800 total workforce)
- Food manufacturing added +3,600 jobs
(1.47 million total workforce)
• Total Americans employed in this sector
during November: 12.2 million
Retail
• Added +50,200 jobs in November
- Clothing and clothing accessories stores
grew by +11,300 jobs (1.39 million total
workforce)
- Motor vehicle parts dealers added +10,500
jobs (1.88 million total workforce)
- Sporting goods, hobby, book and music
stores added 8,600 jobs (607,800 total
workforce)
• Total Americans employed in this sector
during November: 15.49 million
• Employment has grown by 290,000
over the last 12 months
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•
Employment in total non-farm
0
20
28
2.5
50.2
16.7
4
20
86
38
32
22.7
15
7
0 20 40 60 80 100
Mining and logging
Construction
Manufacturing
Wholesale trade
Retail trade
Transportation and warehousing
Information
Financial activities
Professional and Business services
Education and health services
Leisure and hospitality
Temporary help servies
Other services
Government
Over-the-month change, November 2014
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* Numbers are seasonally adjusted in thousands.
Source: BLS, Current Employment Statistics Survey, November 2014
•
Metropolitan employment improving across the country –October 2014
• Regional and state unemployment rates have been steadily declining in the
United States metropolitan areas throughout 2014.
- 42 states and the District of Columbia show unemployment rate decreases over the past 12
months.
• In October, unemployment rates were lower than a year earlier in 354 of the
372 metropolitan areas.
- Bismarck, North Dakota continues to lead the nation with the lowest unemployment rate (2.0%)
- A total of 191 areas had unemployment rates below the U.S. average, 167 areas had rates above
it, and 14 areas had rates equal to that of the nation.
- Of the 372 metropolitan areas, eight areas had jobless rates of at least 10.0% and an impressive
144 areas had rates below 5.0%. The rest hovered around the national average.
- Employment increased in 318 of 372 metropolitan areas, decreased in 46 areas and was
unchanged in 8 areas.
- The largest over-the-year employment increases occurred in New York, Northern New Jersey,
Long Island, N.Y., N.J.- Pa. (+123,900), Houston-Sugar Land-Baytown, Texas (+120,600) and
Dallas-Fort Worth-Arlington, Texas (+111,900).
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OPTIONAL SLIDE
Metropolitan employment data from previous month. Source: BLS
•
Mid-Atlantic Region – October 2014
• Unemployment rate of 6.0%
(-0.1% from September)
• Philadelphia City, PA had the largest
rate decline from a year earlier (-
2.8%)
• New Jersey reported highest
unemployment rate at 6.6%
• Pennsylvania reported the lowest
unemployment rate at 5.4%
• States:
- Delaware
- District of Columbia
- Maryland
- Pennsylvania
- Virginia
- West Virginia
10
OPTIONAL SLIDE
Metropolitan employment data from previous month. Source: BLS
•
Midwest Region – October 2014
• The Midwest reported an impressive
unemployment rate of 5.6% (-0.1%)
• North Dakota had the lowest
unemployment rate of 2.8%
• Illinois has seen the largest net
change in unemployment, with a
drop of -2.5% in the last 12 months
• Michigan had the highest
unemployment rate at 7.1 (-0.1 from
the previous month)
• States:
- Illinois
- Indiana
- Iowa
- Kansas
- Michigan
- Minnesota
- Missouri
- Nebraska
- North Dakota
- Ohio
- South Dakota
- Wisconsin
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OPTIONAL SLIDE
Metropolitan employment data from previous month. Source: BLS
•
Mountain-Plains Region – October 2014
• Colorado had the largest
unemployment rate decrease of
2.2% from previous year
• The largest over-the-month
percentage increases occurred in
Wyoming (+1.4%) closely followed by
Utah (+0.7%)
• Missouri had the highest
unemployment rate at 5.9% (-0.4%
from the previous month)
• Utah continues to have one of the
lowest unemployment rates in the
country, with 3.6 percent (+0.1%
from the previous month)
• States:
- Colorado
- Kansas
- Missouri
- Montana
- Utah
- Wyoming
12
OPTIONAL SLIDE
Metropolitan employment data from previous month. Source: BLS
•
New England Region – October 2014
• The New England region
unemployment rate dropped to
5.9%, a 0.1% decrease
• Rhode Island saw one of the largest
over-the-month percentage declines
in employment, dropping -0.5% to
7.4%
- Rhode Island still had the highest
unemployment rate in the region.
• New Hampshire recorded the lowest
unemployment rate of the region, as it
dropped 0.1% to 4.2% in October
• States:
- Connecticut
- Maine
- Massachusetts
- New Hampshire
- Rhode Island
- Vermont
13
OPTIONAL SLIDE
Metropolitan employment data from previous month. Source: BLS
•
New York, New Jersey Region – October 2014
• The New York unemployment rate
dropped .2 percentage points from
6.2% to 6.0%.
• The New Jersey unemployment rate
increased .1 percentage points to
6.6%
• Ithaca, NY had the lowest
unemployment rate of the region at
3.9%.
• Guayama, PR had the highest
unemployment rate at 20.9%.
• States:
- New York
- New Jersey
- Puerto Rico
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OPTIONAL SLIDE
Metropolitan employment data from previous month. Source: BLS
http://www.bls.gov/regions/new-york-new-jersey/home.htm
•
Southeast Region – October 2014
• The Southeast region saw both
positive and negative results
• Florida had one of the largest over-
the-month increases in employment,
adding +34,400 new jobs in October,
and adding an incredible +206,900
jobs over the past 12 months
• Florida also had the lowest overall
unemployment rate in the region, at
6.0%
• Georgia had the highest
unemployment rate in the country,
with 7.7%; and Mississippi was
closely behind with 7.6%
• States:
- Alabama
- Florida
- Georgia
- Kentucky
- Mississippi
- North Carolina
- South Carolina
- Tennessee
15
OPTIONAL SLIDE
Metropolitan employment data from previous month. Source: BLS
•
Southwest Region – October 2014
• The Southwest region’s
unemployment rate remained the
same in the month of October
• Texas had one of the largest over-the-
month increases in employment,
adding +35,200 new jobs in October,
and the most significant over-the-year
job increase, adding a whopping
+421,900 jobs since October 2013
• Oklahoma had the lowest
unemployment rate of 4.5% (-1.1%
over the last year)
• New Mexico had the highest rate of
unemployment at 6.5%
• States:
- Arkansas
- Louisiana
- New Mexico
- Oklahoma
- Texas
16
OPTIONAL SLIDE
Metropolitan employment data from previous month. Source: BLS
•
West Region – October 2014
• The West continued to have the
highest unemployment rate in the
country at 6.5 percent (the same as
the previous month)
• Both Hawaii and Idaho touted the
lowest unemployment rate of 4.1%
• California has experienced the
largest over-the-month job increases
by adding 41,500 in October, and
319,500 over the last year
- However, California has the
highest unemployment rate at
7.3%
• States:
- Alaska
- Arizona
- California
- Hawaii
- Idaho
- Nevada
- Oregon
- Washington
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OPTIONAL SLIDE
Metropolitan employment data from previous month. Source: BLS