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Posts Tagged ‘Moody’s Analytics’
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.
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.