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Adecco USA Job Market Update September 2014
1. Job Market Update
U.S. Economic Data
•
Reflective of the Bureau of Labor Statistics
“The Employment Situation – September 2014”
As of October 2014
2. Overview of “The Employment Situation”
• The September report showed an overall
monthly gain of 248,000 jobs –
considerably higher than last month’s
gain of 142,000.
• Revisions to prior months, July & August:
•
- July and August experienced more growth
than previously reported.
- The July payroll number was revised from
+212,000 to +243,000.
- The August numbers were revised from
+142,000 to +180,000.
- That makes a combined 69,000 more jobs
than expected.
2
3. 248,000 new jobs added in September
•
202
164
237
274
84
144
222
203
304
229
267
212
142
248
In Thousands
3
* Numbers are seasonally adjusted. Source: BLS
4. Unemployment rate decreased in September
• Total nonfarm payroll employment
increased by 248,000.
•
- Unemployment rate dropped, from 6.1% to
5.9%.
- Unemployment rate and the numbers of
unemployed persons have declined by 1.3%,
(1.9 million) in the last year.
• Discouraged workers – Down by 154,000
from September 2013.
4
JOBS GAINED IN SEPT.
248,000
UNEMPLOYMENT RATE
5.9%
LOWEST UNEMPLOYMET
RATE SINCE
Sept. 2008
5. September’s job creation statistics
• United States private sector generated
over 236,000 jobs in September.
•
- Employment rate back to pre-recession
conditions.
- US has more jobs than in over four
years.
5
Source: BLS
6. Industry Breakdown
Professional & Business Services
• Increase of 81,000 jobs (+34,000 from
the previous month).
•
- Management and technical consulting
services added 11,500 jobs (1.25 million
total workforce).
- Architectural and engineering services
created 6,000 jobs (1.42 million total
workforce).
• Total Americans employed in this sector
during September: 19.41 million.
Healthcare
• Added 22,600 jobs during September.
- Ambulatory services generated 14,200 jobs
(6.73 million total workforce).
- Home health services grew 6,800 jobs
(1.29 million total workforce).
- Hospitals grew 6,200 jobs (4.81 million
total workforce).
Temporary Help Services
- 20th consecutive month of job
creation.
- Increase of +19,700 jobs.
- 2.93 million total workforce.
6
Source: BLS
7. Industry Breakdown
Manufacturing
• Increase of 4,000 jobs in September after
August’s growth of 28,000 new jobs.
• Total Americans employed in this sector
during September: 12.15 million.
Construction
• Added 16,000 new jobs.
•
- Specialty trade contractors gained 8,800
jobs (3.78 million total workforce).
- Construction of buildings also saw an
increase of 6,200 jobs (1.37 million total
workforce). .
• Total Americans employed in this sector
during September: 6.07 million.
Retail
• Added 35,300 for a total employed of
15.4 million .
- Food and beverage stores grew by 19,500
jobs (3 million total workforce).
- General merchandise stores added 5,400
jobs (3.14 million total workforce).
- Sporting goods, hobby, book and music
stores added 5,300 jobs (592,300 total
workforce).
7
8. Employment in total non-farm
•
Over-the-month change, September 2014
9
16
4
1.8
35.3
1.9
12
12
81
32
33
19.7
0
12
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
8
* Numbers are seasonally adjusted in thousands.
Source: BLS, Current Employment Statistics Survey, September 2014
9. OPTIONAL SLIDE
Metropolitan employment improving across the country – August
2014
• Regional and state unemployment rates saw little change in the United States
metropolitan areas.
•
- Overall unemployment changes have been positive, with forty-five states and the District of
Columbia showing unemployment rate decreases over the past 12 months.
• In August, the national unemployment rate showed little change, dropping just
0.1% to 6.2%, which is 1.1% lower than August 2013.
- Bismarck, North Dakota continues to lead the nation with the lowest unemployment rate — at 2.2
percent, a decline of 0.2 percentage points from July.
- Of the 322 metropolitan areas, eleven areas had jobless rates of at least 10.0 percent and 84
areas had rates below 5.0 percent. The rest hovered around the national average.
- In other positive news, employment increased in 306 of 372 metropolitan areas, decreased in 57
areas and was unchanged in 9 areas.
- Looking at the past year, the largest over-the-year employment increases occurred in New York,
Northern New Jersey, Long Island, N.Y., N.J.- Pa. (+156,500), Houston-Sugar Land-Baytown,
Texas (+107,400) and Dallas-Fort Worth-Arlington, Texas (+101,500).
9
Metropolitan employment data from previous month. Source: BLS
10. Mid-Atlantic Region – August 2014
• Unemployment rate of 6.3 percent
(the same as July).
• Philadelphia City, PA had the largest
rate decline from a year earlier (-2.2
percentage points).
•
- Tied for the highest unemployment
rate in the region with 8.4 percent,
along with Danville, VA.
• Morgantown, WV reported the lowest
unemployment rate at 4.9 percent.
• States:
OPTIONAL SLIDE
- New Jersey
- New York
- Pennsylvania
Metropolitan employment data from previous month. Source: BLS
10
11. Midwest Region – August 2014
• Impressive unemployment rate of 5.8
percent (-0.1 percent).
• North Dakota had the lowest
unemployment rate of 2.8 percent.
•
- Bismarck, North Dakota had the
lowest unemployment rate with
an impressive 2.2 (-0.2
percentage points from the
previous month).
• Michigan had the highest
unemployment rate at 7.4 (-0.3 from
the previous month).
• States:
OPTIONAL SLIDE
- Illinois
- Indiana
- Iowa
- Kansas
- Michigan
- Minnesota
- Missouri
- Nebraska
- North Dakota
- Ohio
- South Dakota
- Wisconsin
Metropolitan employment data from previous month. Source: BLS
11
12. Mountain-Plains Region – August 2014
• Nevada had the largest
unemployment rate decrease in the
region with a 2.2 percent decrease
from the previous year.
•
- However, the state came in last in
the region with 7.6 percent
unemployment (-0.1 percentage
points from the previous month).
• Yuma, AZ continues to have the
highest unemployment rates in the
country, with 28.0 percent (-1.3
percentage points from the previous
month).
• States:
OPTIONAL SLIDE
- Alaska
- Arizona
- California
- Colorado
- Hawaii
- Idaho
- Montana
- Nevada
- New Mexico
- Oregon
- Utah
- Washington
- Wyoming
Metropolitan employment data from previous month. Source: BLS
12
13. New England Region – August 2014
• 5.9% unemployment, a 0.1 percent
increase.
• Vermont’s Burlington-South
Burlington metro area recorded the
lowest unemployment rate of the
region, as it dropped 0.1 percent to
3.5 percent in August.
• The highest unemployment rate in the
region came in at Lawrence-Methuen-
Salem MA, NH with 10.3 percent.
•
• States:
OPTIONAL SLIDE
- Connecticut
- Maine
- Massachusetts
- New Hampshire
- Rhode Island
- Vermont
Metropolitan employment data from previous month. Source: BLS
13
14. Southeast Region – August 2014
• Increased 0.2 percent from 6.1 to 6.3
percent.
• Kentucky (-1.3 percentage points)
and North Carolina (-1.2 percentage
points) had the largest
unemployment rate declines.
• Florida had one of the largest over-the-
•
month employment increases
(+22,700 new jobs).
- Crestview-Fort Walton Beach-
Destin, FL tied had the lowest
unemployment rate in the region
with a showing of 4.9 percent.
• States:
OPTIONAL SLIDE
- Delaware
- District of Columbia
- Florida
- Georgia
- Maryland
- North Carolina
- South Carolina
- Virginia
- West Virginia
- East South Central
- Alabama
- Kentucky
- Mississippi
- Tennessee
Metropolitan employment data from previous month. Source: BLS
14
15. Southwest Region – August 2014
• Unemployment rate increased slightly
to 5.3 percent.
• This region saw great growth in Texas
– adding 20,100 new jobs.
• Oklahoma had the lowest
unemployment rate of 4.7 percent.
• McAllen-Edinburg-Mission had the
highest rate of unemployment at 9.8
percent.
•
• States:
- Arkansas
- Louisiana
- Oklahoma
- Texas
OPTIONAL SLIDE
Metropolitan employment data from previous month. Source: BLS
15
16. West Region – August 2014
• Highest unemployment rate in the
country at 6.6 percent.
• Utah has the lowest unemployment
rate of 3.6 percent.
•
- Logan, UT had 3.1 percent.
• California has the largest monthly job
increase by adding 44,200 in August,
and 313,900 since August of 2013.
- El Centro, CA continues to have
the highest unemployment rate at
25.1 percent.
• States:
OPTIONAL SLIDE
- Alaska
- Arizona
- California
- Colorado
- Hawaii
- Idaho
- Montana
- Nevada
- New Mexico
- Oregon
- Utah
- Washington
- Wyoming
Metropolitan employment data from previous month. Source: BLS
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