From the U.S. Bureau of Labor Statistics, total nonfarm payroll employment rose by 148,000 in December. Job gains occurred in healthcare, construction, and manufacturing. Although the number of jobs were lower than expected, the underlying numbers are good. The lower amount can be attributed to retail, as this is the day of the internet and on-line shopping, analysts will have to account for that in the future.
In December, the unemployment rate was 4.1 percent for the third consecutive month. The number of unemployed persons, at 6.6 million, was essentially unchanged over the month. Over the year, the unemployment rate and the number of unemployed persons were down by 0.6 percentage point and 926,000, respectively. (See table A-1.)
Among the major worker groups, the unemployment rate for teenagers declined to 13.6 percent in December, offsetting an increase in November. In December, the unemployment rates for adult men (3.8 percent), adult women (3.7 percent), Whites (3.7 percent), Blacks (6.8 percent), Asians (2.5 percent), and Hispanics (4.9 percent) showed little or no change. (See tables A-1, A-2, and A-3.)
Among the unemployed, the number of new entrants decreased by 116,000 in December. New entrants are unemployed persons who never previously worked. (See table A-11.)
The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 1.5 million in December and accounted for 22.9 percent of the unemployed. Over the year, the number of long-term unemployed declined by 354,000. (See table A-12.)
The labor force participation rate, at 62.7 percent, was unchanged over the month and over the year. The employment-population ratio was unchanged at 60.1 percent in December but was up by 0.3 percentage point over the year. (See table A-1.)
So which business sectors fared well?
Total nonfarm payroll employment rose by 148,000 in December. Job gains occurred in healthcare, construction, and manufacturing. Employment in health care increased by 31,000 in December. Employment continued to trend up in ambulatory health care services (+15,000) and hospitals (+12,000). Health care added 300,000 jobs in 2017, compared with a gain of 379,000 jobs in 2016.
Construction added 30,000 jobs in December, with most of the increase among specialty trade contractors (+24,000). In 2017, construction employment increased by 210,000, compared with a gain of 155,000 in 2016.
In December, manufacturing employment rose by 25,000, largely reflecting a gain in durable goods industries (+21,000). Manufacturing added 196,000 jobs in 2017, following little net change in 2016 (-16,000).
Employment in food services and drinking places changed little in December (+25,000). Over the year, the industry added 249,000 jobs, about in line with an increase of 276,000 in 2016.
ANOTHER GREAT JOBS REPORT …
Making American jobs great again … There were 228,000 payrolls added in November, and the unemployment rate remained at a low 4.1% and Payrolls for September and October were revised higher by a combined 3,000 jobs. According to the Department of Labor,
The unemployment rate held at 4.1 percent in November, and the number of unemployed persons was essentially unchanged at 6.6 million. Over the year, the unemployment rate and the number of unemployed persons were down by 0.5 percentage point and 799,000,
respectively. (See table A-1.)
Among the major worker groups, the unemployment rate for teenagers increased to 15.9 percent in November. The jobless rates for adult men (3.7 percent), adult women (3.7 percent), Whites (3.6 percent), Blacks (7.3 percent), Asians (3.0 percent), and Hispanics (4.7 percent) showed little change. (See tables A-1, A-2, and A-3.)
- Nonfarm payrolls grew by 228,000 in November and the unemployment rate held steady at 4.1 percent. Economists expected 200,000 new jobs and an unchanged headline rate.
- Wage growth again disappointed, with average hourly earnings up just 2.5 percent annualized, compared with estimates of 2.7 percent.
- Investors still expect the Fed to hike interest rates at its meeting next week.
Nonfarm payrolls rose by 228,000 in November while the unemployment rate held steady at 4.1 percent as the U.S. economy continues to hum along, the Labor Department reported Friday.
Economists surveyed by Reuters had expected nonfarm payrolls to grow by 200,000.
“The November employment data is largely as expected. For an expansion that began in mid-2009, no negative surprises are welcome,” said Mark Hamrick, senior economic analyst at Bankrate.com. “The lingering impacts of recent hurricanes and flooding have reverted back to relative calm in the statistics, meaning that this is a ‘cleaner’ number.”
The biggest November job gains came in professional and business services [46,000], manufacturing [31,000] and health care [30,000]. In total, goods-producing occupations rose by 62,000. Construction saw a gain of 24,000, almost all of which were specialty trade contracts, a profession that has added 132,000 jobs over the past year.
Heading into the holiday season, retail jobs also grew by 18,7000.
U.S. Economy Ddded 261,000 Jobs in October & Unemployment Rate at 4.1% (Update: Adjusted 92,000 Jobs Added in Aug & Sep)
PUTTING AMERICA BACK TO WORK AGAIN …
More strong jobs numbers have been reported for October 2017 as 261,000 jobs were added. Compare the job growth with what was going on in 2016. Add this to the GDP at 3% and we have an economy finally headed in the right direction.
Total nonfarm payroll employment rose by 261,000 in October, and the unemployment rate edged down to 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment in food services and drinking places increased sharply, mostly offsetting a decline in September that largely reflected the impact of Hurricanes Irma and Harvey. In October, job gains also occurred in professional and business services, manufacturing, and health care.
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) declined by 369,000 to 4.8 million in October. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find full time jobs. Over the past 12 months, the number of involuntary part-time workers has decreased by 1.1 million.
The U.S. economy added 261,000 jobs in October and the unemployment rate was 4.1 percent as labor conditions returned to normal following the storm-weakened September.
However, the number was considerably below Wall Street expectations of 310,000. The tick lower in the unemployment rate came against expectations it would hold steady at 4.2 percent.
In addition to the October growth, an initially reported decline of 33,000 for September was revised up to 18,000. August’s count also was revised up from 169,000 to 208,000.
Indeed, the biggest gain in employment came from the hospitality industry, with jobs at food and drinking establishments up by 89,000, reflecting a storm-related rebound. Professional and business services contributed 50,000 to the total while manufacturing added 24,000 and health care increased by 22,000.
In all, employment in the manufacturing sector has increased by 156,000 since President Donald Trump’s election in November 2016. Trump has made blue-collar growth a priority of his economic agenda.
ECONOMY BOOMING UNDER TRUMP … ADP: US Private Sector Jobs Soar … 235,000 Jobs Added in October 2017 vs 200,000 Expected & Worker Productivity Up & Manufacturing Surges in Midwest States
MAKING AMERICA GREAT AGAIN … PUTTING AMERICA BACK TO WORK AND OFF UNEMPLOYMENT.
As reported at CNBC, the number of private-sector jobs created in October 2017 rose to 235,000. That was more than expected and far more than October 2016. In terms of business size, job gains were spread evenly, with companies that have more than 500 employees hiring 90,000 while those with fewer than 50 added 79,000. Mark Zandi, chief economist of Moody’s Analytics, stated that “the job market has rebounded quickly following the devastating hit it took from Hurricanes Harvey and Irma.”
This is one of the many reasons why Donald Trump defeated Hillary Clinton. Trump had a plan for the economy, Hillary did not. The economy is booming in states like Minnesota and Iowa. The coal industry is making a come back. All this country needs is a real and legitimate tax relief plan for business and individuals, not just a tax shell game of moving taxes and it will light this already robust economy on fire.
The number of private-sector jobs created in October rose more than expected, with construction jobs surging in the wake of destructive hurricanes Harvey and Irma.
The ADP National Employment showed private-sector businesses added 235,000 jobs in the month. ADP was expected to show private employers added 200,000 jobs in October, up from 135,000 in September.
Goods-producing companies benefited strongly with 85,000 new jobs, 62,000 of which came from construction. Manufacturing also saw 22,000 positions added.
Overall, the service sector accounted for the bulk of the job creation, adding 150,000 jobs. Professional and business services added the most positions, up 109,000. Job losses were seen in the trade, transportation, and information sectors, as well as education.
UPDATE II: Manufacturing surges in Midwestern states.
Citing strong exports, hiring and faster ingredient deliveries, Midwest manufacturers reported their highest growth in four months in October, according to a widely watched economic report issued Wednesday by Creighton University.
Creighton’s Mid-America Business Conditions Index, which covers Minnesota and eight other central states, rose to 58.8 in October from 58.2 in September. It is the 11th consecutive month the index signaled strong economic growth for factories in the region.
Minnesota’s index fell to a still strong 56.3 in October from 59.4 in September as factories reported growth across nearly all measures. Any index above 50 indicates growth.
“Over the past 12 months, Minnesota expanded both durable and nondurable goods manufacturing. Gains were strong for food processors and medical equipment manufacturers,” said Ernie Goss, director of the Creighton Economic Forecasting Group.
For the nine-state region — Minnesota, the Dakotas, Iowa, Kansas, Missouri, Nebraska, Oklahoma and Arkansas — Goss found that factory employment, exports, inventories and confidence levels swelled significantly last month while new orders and sales remained strong.
MAKING AMERICAN JOBS GREAT AGAIN!!!
The Trump economy continues to move forward as 209,000 jobs were created in July, 2017. That is more than the expected 183,000 and also unemployment dropped to 4.3%, he lowest since March, 2001. The number of employed people jumped by 345,000 to 153,513,000 in July, setting a third straight monthly record. Try and spin these numbers MSM. None of this would be happening had Hillary Clinton been elected. This is what Americans are concerned about, JOBS! Not Russia, jobs!
To Democrats, the LEFT, the MSM and establishment Republicans, try, just try and overturn an election by WE THE PEOPLE and see what happens. I dare you. The United States has a president that is doing things and creating an economic environment for the people and for some sick, selfish reason the individuals previously referenced are trying to present it. Trust me, keep up the BS and their will be a political judgment day.
The U.S. economy added 209,000 jobs in July and the unemployment rate was 4.3 percent, according to a government report Friday.
Economists surveyed by Reuters had expected the report to show growth of 183,000 with the jobless rate ticking down to 4.3 percent, the lowest since March 2001. A more encompassing rate that includes discouraged workers and the underemployed was unchanged at 8.6 percent.
The number of employed Americans also hit a fresh new high at 153.5 million.
The closely watched wage number was unchanged from previous months, with average hourly earnings up 2.5 percent. The average work week also was unchanged at 34.5 hours.
Bars and restaurants provided the biggest boost for the month with 53,000 more positives, while professional and business services contributed 49,000, the Bureau of Labor Statistics said.
In addition to the strong July report, June’s 222,000 gain was revised up to 231,000 though May was cut from 152,000 to 145,000.
A few hours later, the Labor Department’s Bureau of Labor Statistics said the economy added 209,000 jobs in July; the number of employed people jumped by 345,000 to 153,513,000 in July, setting a third straight monthly record; the number of Americans counted as not in the labor force, meaning they don’t have a job and are not looking for one, dropped for a third straight month to 94,657,000; and the nation’s unemployment rate also dropped a tenth of a point, to 4.3 percent.
In July, the nation’s civilian noninstitutionalized population, consisting of all people age 16 or older who were not in the military or an institution, reached 255,151,000. Of those, 160,494,000 participated in the labor force by either holding a job or actively seeking one.
The 160,494,000 who participated in the labor force equaled 62.9 percent of the 255,151,000 civilian noninstitutionalized population.
In testimony before Congress in mid-July, Federal Reserve Chair Janet Yellen said the declining labor force participation rate among men of prime working age is a particular concern.
In July, BLS said the participation rate for men 16 and over was 68.9 percent, compared with 73.1 ten years ago and 75.0 percent 20 years ago.