Post on 15-Apr-2017
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Job Market UpdateU.S. Economic Data
Reflective of the Bureau of Labor Statistics “The Employment Situation – August 2015”
As of September 2015
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Overview of “The Employment Situation”
• The August report showed an overall monthly gain of 173,000 jobs – below the previous twelve-month average of 247,000 per month.
- This was 47,000 less than forecasted- It was the first time since April that job gains have
been below 200,000.
• The unemployment rate dropped 0.2% to 5.1%
• Revisions to prior months:- The June number was revised from +231,000 to
+245,000- The July number was revised from +215,000 to
+245,000- That’s a total of 44,000 more jobs than was
previously reported
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Employment in August
• Total nonfarm payroll employment increased by 173,000 jobs in August, which is below the 12-month average of 247,000
- Unemployment edged down to 5.1%, the lowest since April 2008
- The number of long-term unemployed was little changed at 2.2 million
- Over the year, the number of long-term unemployed has declined by 779,000
• Discouraged workers in August was 624,000 – virtually unchanged
- Has drastically fallen in last 12-months, from 775,000
• Average hourly payrolls up .08 cents, to $25.09
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JOBS GAINED IN AUGUST
UNEMPLOYMENT RATE
173,000
5.1%
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August’s private job creation statistics
• United States private sector jobs increased during August, generating over 140,000 jobs
- Highest increase in employment seen within health care, leisure and hospitality and professional and business services, which includes temporary help
- Biggest losses in manufacturing and mining
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Source: BLS
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Employment in total nonfarm
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* Numbers are seasonally adjusted in thousands. Source: BLS, Current Employment Statistics Survey, August 2015
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State & Regional Report – July 2015
• State and Regional unemployment rates were little changed in July
• 34 states reported an increase in employment from the prior month, while 16 states, plus the District of Columbia reported decreases
- Over the year, 47 states and the District of Columbia have reported increases, and only 4 have reported decreases in overall employment
• The Midwest had the lowest regional unemployment rate at 4.8% (falling from 5.0%), and the West had the highest unemployment rate at 5.7% (down from 5.8%)
• Utah reported the lowest unemployment rate, at 3.6%, while West Virginia showed the highest monthly rate of 7.5%, well above the national average
• California (+80,700), Texas (+31,400) and Florida (+30,500) reported the most significant over-the-month employment increases in July
• Just New Jersey reported significant declines in unemployment in July, decreasing by 13,600 jobs
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State and regional employment data from previous month. Source: BLS
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Mid-Atlantic Region – July 2015
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State and regional employment data from previous month. Source: BLS
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New York, New Jersey Region – July 2015
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State and regional employment data from previous month. Source: BLS
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Mountain-Plains Region – July 2015
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State and regional employment data from previous month. Source: BLS
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New England Region – July 2015
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State and regional employment data from previous month. Source: BLS
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Southeast Region – July 2015
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State and regional employment data from previous month. Source: BLS
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Southwest Region – July 2015
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State and regional employment data from previous month. Source: BLS