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Posts Tagged ‘Job Growth’
U.S. economic employment started the new year strong. The U.S. Bureau of Labor Statistics reported today (February 3) that employers added 243,000jobs in January with the unemployment rate dropping to 8.3% from 8.5% in December . That’s nearly 100,000 more jobs than economists projected. Additionally, employment for November and December was revised upward by 60,000. The BLS reports that “job growth was widespread, with large gains in professional and business services, leisure and hospitality, and manufacturing”.
The unemployment rate averaged 8.9 percent last year, down from 9.6 percent the previous year. Regarding government employment, the Bureau of Labor Statistics reports that “ government employment changed little in January. Over the past 12 months, the sector has lost 276,000 jobs, with declines in local government; state government, excluding education; and the U.S. Postal Service.
Economists estimate that employers will add about 2.1 million jobs in 2012. That compares to 1.6 million in 2011 and 940,000 in 2010. 125,000 are needed each month just to keep up with the growth in the potential labor force. This is the fifth month in a row in which the economy generated 100,000 jobs or more.
The U.S. Bureau of Labor Statistics reported Friday (January 6) that employers added 200,000 jobs in December with the unemployment rate dropping to 8.5%. That’s 50,000 more jobs than economists expected. The unemployment rate averaged 8.9 percent last year, down from 9.6 percent the previous year. November’s unemployment rate had dropped to 8.6 % from a 2011 high of 9.2%. Job gains occurred in retail, health care, transportation, warehousing, mining and manufacturing.
Economists estimate that employers will add about 2.1 million jobs in 2012. That compares to 1.6 million in 2011 and 940,000 in 2010. 125,000 are needed each month just to keep up with the growth in the potential labor force. The economy typically needs to add 125,000 jobs each month just to keep up with population growth. Government employment changed little in December but was down by 280,000 in 2011.
The hiring gains cap a six-month period in which the economy generated 100,000 jobs or more each month. That hasn’t happened since April 2006.
The U.S. Bureau of Labor Statistics reported Friday (May 6, 2011) that employers added 244,000 jobs in April. In another positive development, the employment gains in both February and March were revised upward by a cumulative total of 46,000 jobs. Private sector employment has now averaged over 250,000 job growth the past three months. April’s unemployment rate rose to 9 % from March’s 8.8%, however, many economists discounted the rise noting the data is derived from the more volatile household survey sample. Public sector jobs continued to shrink in April by 22,000.
Economists estimate that employers will continue to add about 200,000 jobs a month through the remainder of the year. That compares to last year’s average of 78,000 job growth per month. The unemployment rate is expected to drop to 8.5% by year’s end.
Moody’s Analytics, as illustrated in USA Today, has forecast U.S. job growth by geographic region, state and industry.
Job growth statistics released today (April 1, 2011) by the Bureau of Labor Statistics shows continued growth in the U.S. labor market. The unemployment rate dropped to 8.8% as the economy created 216,000 new jobs in March. The unemployment rate has improved a full percentage point in the last four months. The economy needs to add 125,000 new jobs each month just to keep up with a growing number of Americans eligible for employment. The private sector added 230,000 jobs in March on top of the 240,000 jobs in February as local government hiring continued to contract.
Moody’s Analytics, as illustrated in USA Today has forecasted U.S. job growth by geographic region and by industry.