JOBS ADDED: 261,000Leisure & Hospitality 284,000 1.8% Construction 187,000 2.8% Manufacturing...
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EMPLOYMENT QUICK FACTS October 2017 JOBS ADDED: 261,000 EMPLOYMENT GROWTH: 1.4% UNEMPLOYMENT: 4.1% Sources: Bureau of Labor Statistics MOST INDUSTRIES SEEING JOB GROWTH October 2016 - October 2017 INDUSTRY 12-Month Total Change 12-Month % Change Professional & Business Services 536,000 2.6% Education & Health Services 464,000 2.0% Leisure & Hospitality 284,000 1.8% Construction 187,000 2.8% Manufacturing 156,000 1.3% Financial Activities 153,000 1.8% Trade, Trans., Utilities 103,000 0.4% Other Services 74,000 1.3% Natural Resources & Mining 58,000 8.8% Government 53,000 0.2% Information -64,000 -2.3% Source: Bureau of Labor Statistics Target Effective Federal Funds Rate (Oct. 2017) 1.00%- 1.25% Prime Rate (Oct. 2017) 4.25% 10 Year U.S. Treasury (As of Nov 7, 2017) 2.32% 30 Year Mortgage Rate Fixed (As of Nov 7, 2017) 2.78% Personal Consumption Expenditures Change (September 2016 - September 2017) +1.6% Consumer Price Index Change (September 2016 - September 2017) +2.2% Producer Price Index (Sept. 2016 - Sept. 2017) +2.6% Sources: U.S. Federal Reserve, Wall Street Journal, Bureau of Economic Analysis, Bureau of Labor Statistics 85 CONSECUTIVE MONTHS OF JOB CREATION October 2017 INTEREST RATES AND INFLATION UNITED STATES NOV 2017 Source: Bureau of Labor Statistics Note: Shaded area represents recession Source: Bureau of Labor Statistics The U.S. labor market added 261,000 jobs in October. After an upward revision to the September employment report, the U.S. has now added jobs for 85 consecutive months. This is the longest streak on record and a positive sign that the labor market is rebounding after being battered by Hurricanes Harvey and Irma. The professional and business services; education and health services; and leisure and hospitality sectors added the largest number of jobs over the past 12 months. Only the information sector experienced a decline in employment. The unemploy- ment rate fell from 4.2 percent to 4.1 percent, and the underemployment rate fell from 8.3 percent to 7.9 percent. In addition to a solid labor market, the U.S. economy expanded at a better-than-expected 3.0 percent annual rate for the third-quarter of this year. Building off the positive economic data, the U.S. Consumer Confidence Index rose 5.3 points to 125.9. UNEMPLOYMENT AND UNDEREMPLOYMENT DECLINE October 2017 Unemployment: 4.1% Underemployment: 7.9%
Transcript of JOBS ADDED: 261,000Leisure & Hospitality 284,000 1.8% Construction 187,000 2.8% Manufacturing...
EMPLOYMENT QUICK FACTS October 2017
JOBS ADDED: 261,000
EMPLOYMENT GROWTH: 1.4%
UNEMPLOYMENT: 4.1%
Sources: Bureau of Labor Statistics
MOST INDUSTRIES SEEING JOB GROWTH
October 2016 - October 2017
INDUSTRY12-Month
Total Change12-Month% Change
Professional & Business Services 536,000 2.6%
Education & Health Services 464,000 2.0%
Leisure & Hospitality 284,000 1.8%
Construction 187,000 2.8%
Manufacturing 156,000 1.3%
Financial Activities 153,000 1.8%
Trade, Trans., Utilities 103,000 0.4%
Other Services 74,000 1.3%
Natural Resources & Mining 58,000 8.8%
Government 53,000 0.2%
Information -64,000 -2.3%
Source: Bureau of Labor Statistics
Target Effective Federal Funds Rate (Oct. 2017)1.00%-1.25%
Prime Rate (Oct. 2017) 4.25%
10 Year U.S. Treasury (As of Nov 7, 2017) 2.32%
30 Year Mortgage Rate Fixed (As of Nov 7, 2017) 2.78%
Personal Consumption Expenditures Change (September 2016 - September 2017)
+1.6%
Consumer Price Index Change(September 2016 - September 2017)
+2.2%
Producer Price Index (Sept. 2016 - Sept. 2017) +2.6%
Sources: U.S. Federal Reserve, Wall Street Journal, Bureau of Economic Analysis, Bureau of Labor Statistics
85 CONSECUTIVE MONTHS OF JOB CREATIONOctober 2017
INTEREST RATES AND INFLATION
UNITED STATES NOV 2017
Source: Bureau of Labor StatisticsNote: Shaded area represents recession
Source: Bureau of Labor Statistics
The U.S. labor market added 261,000 jobs in October. After an upward revision to the September employment report, the U.S. has now added jobs for 85 consecutive months. This is the longest streak on record and a positive sign that the labor market is rebounding after being battered by Hurricanes Harvey and Irma. The professional and business services; education and health services; and leisure and hospitality sectorsadded the largest number of jobs over the past 12 months. Only the information sector experienced a decline in employment. The unemploy-ment rate fell from 4.2 percent to 4.1 percent, and the underemployment rate fell from 8.3 percent to 7.9 percent. In addition to a solid labor market, the U.S. economy expanded at a better-than-expected 3.0 percent annual rate for the third-quarter of this year. Building off the positive economic data, the U.S. Consumer Confidence Index rose 5.3 points to 125.9.
UNEMPLOYMENT AND UNDEREMPLOYMENT DECLINEOctober 2017 Unemployment: 4.1% Underemployment: 7.9%
ROBERT SPENDLOVEEconomic and Public Policy Officer
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A division of ZB, N.A. Member FDIC As of November 7, 2017
ECONOMIC GROWTH IMPROVING Q3 2017 Gross Domestic Product= 3.0%
Source: Bureau of Economic Analysis
INFLATION REMAINS LOWER THAN EXPECTEDSeptember 2017: U.S. Consumer Price Index = 2.2%
DEMOGRAPHICSU.S. Population Growth by State: 2015 - 2016
CONSUMER CONFIDENCE CLIMBED IN OCTOBEROctober 2017: U.S. Consumer Confidence Index = 125.9
Source: The Conference Board
• Population Growth Rate: 0.7% (2016: 323,127,513)
• Total Fertility Rate: 1.86 (2013)
• Median Age: 37.9 (2016)
• Household Size: 2.65 (2015)
• Median Household Income: $59,039 (2016)
• Annual Mean Wages & Salaries: $48,320 (2015)
• Per Capita Personal Income: $49,571 (2016)
• Personal Income (% Change): 3.6% (2015-2016)Source: U.S. Census Bureau, Bureau of Economic Analysis, U.S. Bureau of Labor Statistics,
National Center for Health Statistics, statista.com.
QUICK FACTS
U.S.: 0.7%
Source: U.S. Census Bureau
Sources: Bureau of Labor Statistics
