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Posts Tagged ‘Job Growth’
The U.S. Bureau of Labor Statistics reports today (January 4) that USA employment added 155,000 jobs in December with the unemployment rate stable at 7.8%. The private sector created 168,000 jobs, while government employment continued to contract by eliminating 13,000 jobs. A total of 1.84 million jobs were added in 2012, the Labor Department said Friday. Many economists expected December’s jobs report to show that employers added about 150,000 jobs in December. This is the 34th straight month of positive job growth. 125,000 jobs are needed each month to keep up with growth in the potential labor force.
In related economic developments, 5.4 million jobs have been created in the past 32 months. The auto industry alone has added 250,000 jobs after being rescued five years ago. GM is now the the number one car company once again in the world as Chrysler has become the fastest growing car company in the USA.
The U.S. Bureau of Labor Statistics reports today (October 5) that employers added 114,000 jobs in September with the unemployment rate decreasing to 7.8%. The drop in the unemployment rate .3% jobs number is better than than economists anticipated with the rate below 8% for the first time in nearly four years. Significantly, July and August jobs numbers were revised upward by 86,000 jobs (+40,000 in July and +46,000 in August). The number of unemployed Americans now stands at 12.1 million, the fewest since January 2009. It is the 31st straight month of positive job growth. 125,000 jobs are needed each month to keep up with growth in the potential labor force.
The U.S. Bureau of Labor Statistics reports today (June 1) that employers added 69,000 jobs in May with the unemployment rate “essentially unchanged at 8.2%. The jobs number is lower than than economists anticipated compared to an average increase of 225,000 the previous four months. March and April jobs numbers were revised downward by 49,000 jobs (-11,00 in March and -38,000 in April).
The unemployment rate edged back up to 8.2 percent in May from 8.1 percent in April and equals the March rate of 8.2 percent. A couple unique developments continue to impact the unemployment rate. First, baby boomers are retiring in significant numbers which lowers the number of active job seekers. Secondly, the accelerated wind-down of the wars in Iraq and Afghanistan are bringing thousands of troops home. One million military veterans will reenter the civilian employment market in the next five years.
May is now the 2nd month in a row in which the economy didn’t add at least 100,000 jobs or more. However, it is the 27th straight month of positive job growth. 125,000 jobs are needed each month to keep up with growth in the potential labor force.
The U.S. Bureau of Labor Statistics reported today, March 9, that employers added 227,000 jobs in February. The unemployment rate remained at 8.3% primarily as confidence grows with more people entering the job market. Additionally, employment for December and January was revised upward by 61,000 additional jobs. The BLS reports that job growth was widespread, with gains in professional and business services (+82,000), health care and social assistance (+61,000) and manufacturing (+31,000) leading the way.
The unemployment rate averaged 8.9 percent last year, down from 9.6 percent the previous year. Employment has increased 3.5 million since February 2010. It’s looking better and better for Halftime in America as the economy gets stronger and more Americans get back to work.
Economists estimate that employers will add about 2.1 million jobs in 2012. The estimate may be revised upward as nearly 500,000 jobs have been added in just the first two months of the year. 125,000 are needed each month to keep up with growth in the potential labor force. This is the seventh month in a row in which the economy generated 100,000 jobs or more and the 24th straight month of U.S. job growth.
