Career Builder Economic update (jan 2013)
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Economic Update January 2013 Michael Hespen National Account Executive
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Transcript of Career Builder Economic update (jan 2013)
Economic Update
January 2013
Michael Hespen
National Account Executive
3rd Qtr. GDP: 3.1% (3rd Estimate)
Sources: Bureau of Labor Statistics, Wall Street Journal, Bureau of Economic Analysis
Job Categories: A Historic Look Wall Street Journal
The Unemployment Rate Changed for November (BLS)
The Bureau of
Labor Statistics
made yearly
adjustments to
the
unemployment
rate. This
adjustment
only impacted
July and
November.
Number of people employed as a temporary employee
divided by total non farm payroll employment
Temp Employment
Temporary help services lost 600 jobs.
Why is the Temp Penetration Rate Important?
“Temporary Help Employment is a Leading Indicator for
Nonfarm Employment—Staffing job trends lead
nonfarm employment by three months when the
economy is emerging from a recession and by six
months during periods of normal economic growth.”
American Staffing Association
Temp Penetration Rate: 1.90% 0.1% Job Loss/Gain: + 155,000 Jobs Unemployment Rate: 7.8%
I
Unemployment Rate: Bachelor’s Degree or higher
Oct Nov Dec
3.7% 3.9% 3.9%
Source: Bureau of Labor Statistics, American Staffing Association
Nonfarm Payroll – Job Growth Details
Jobs Added/Lost
Private Sector 168,000
Government Sector -13,000
Total 155,000 Job Losses
Change from Previous
Month
Government -13,000
Retail Trade -11,300
Job Gains Change from Previous
Month
Leisure & Hospitality 31,000
Construction 30,000
Manufacturing 25,000
Professional & Business
Services 19,000
Financial Activities 9,000
Education & Health
Services 65,000
- Education 10,300
- Healthcare 44,500
- Social Assistance 10,500
Labor Market Recoveries (Business Insider – Chart of the Day)
GDP Projections Survey of Economists (Wall Street Journal)
Unemployment Rate Projections Survey of Economists (Wall Street Journal)
Source: Wall Street Journal, New York Times Please note: WSJ Projections were released prior to the BLS report, Business Insider Chart of the Day, Calculated Risk Blog
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Putting 2012 in Perspective (Wall Street Journal)
