Adecco USA Job Market Update November 2014

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Adecco USA Job Market Update November 2014

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Adecco USA Job Market Update November 2014

  1. 1. Job Market Update U.S. Economic Data • Reflective of the Bureau of Labor Statistics “The Employment Situation – November 2014” As of December 2014
  2. 2. Overview of “The Employment Situation” • The November report showed an overall monthly gain of 321,000 jobs – 100,000+ more jobs than the previous month • Unemployment rate remained unchanged at 5.8% • Revisions to prior months: • - September & October experienced more growth than previously reported. - The September payroll number was revised from +256,000 to +271,000. - The October number was revised from +214,000 to +243,000. - That makes a combined 44,000 more jobs than previously reported 2
  3. 3. 321,000 new jobs added in November • 274 84 144 222 203 304 229 267 212 203 271 243 321 In Thousands 3 * Numbers are seasonally adjusted. Source: BLS
  4. 4. Unemployment rate unchanged in November • Total nonfarm payroll employment increased by 321,000 • - Unemployment rate unchanged at 5.8% - The number of long-term unemployed persons was little changed at 2.8 million - Since November 2013, the number of unemployed has declined by 1.2 million • Discouraged workers – 698,000 (unchanged from previous year) 4 JOBS GAINED IN NOVEMBER 321,000 UNEMPLOYMENT RATE 5.8% LOWEST UNEMPLOYMENT RATE SINCE Sept. 2008
  5. 5. November’s job creation statistics • United States private sector generated over 314,000 jobs in November - Highest increase in employment within professional and business services, retail trade, health care and manufacturing • 5 Source: BLS
  6. 6. Industry Breakdown Professional & Business Services • Increase of +86,000 jobs • - Temporary help services services created +23,000 jobs (2.97 million total workforce) - Accounting and bookkeeping added +16,000 jobs (990,000 total workforce) - Management and technical consulting services added +7,000 jobs (1.26 million total workforce) • Total Americans employed in this sector during November: 19.52 million Health care • Added 28,900 jobs during November (+261,000 positions over 12 months) - Ambulatory services generated +24,300 jobs (6.77 million total workforce). - Offices of physicians grew +6,600 jobs (2.52 million total workforce) - Home health care services grew +5,000 jobs (1.31 million total workforce) • Health care industry is at an all-time high in terms of job availability Temporary Help Services • 22nd consecutive month of job creation with increase of +22,700 jobs • 2.9 million total workforce 6 Source: BLS
  7. 7. Industry Breakdown Leisure & Hospitality • Increase of +32,00 jobs in November • Total Americans employed in this sector during November: 14.79 million Manufacturing • Added +28,000 new jobs • - Plastics and rubber products gained +7,100 jobs (675,800 total workforce) - Food manufacturing added +3,600 jobs (1.47 million total workforce) • Total Americans employed in this sector during November: 12.2 million Retail • Added +50,200 jobs in November - Clothing and clothing accessories stores grew by +11,300 jobs (1.39 million total workforce) - Motor vehicle parts dealers added +10,500 jobs (1.88 million total workforce) - Sporting goods, hobby, book and music stores added 8,600 jobs (607,800 total workforce) • Total Americans employed in this sector during November: 15.49 million • Employment has grown by 290,000 over the last 12 months 7
  8. 8. Employment in total non-farm • Over-the-month change, November 2014 0 20 28 2.5 50.2 16.7 4 20 86 38 32 22.7 15 7 0 20 40 60 80 100 Mining and logging Construction Manufacturing Wholesale trade Retail trade Transportation and warehousing Information Financial activities Professional and Business services Education and health services Leisure and hospitality Temporary help servies Other services Government 8 * Numbers are seasonally adjusted in thousands. Source: BLS, Current Employment Statistics Survey, November 2014
  9. 9. OPTIONAL SLIDE Metropolitan employment improving across the country – October 2014 • Regional and state unemployment rates have been steadily declining in the United States metropolitan areas throughout 2014. • - 42 states and the District of Columbia show unemployment rate decreases over the past 12 months. • In October, unemployment rates were lower than a year earlier in 354 of the 372 metropolitan areas. - Bismarck, North Dakota continues to lead the nation with the lowest unemployment rate (2.0%) - A total of 191 areas had unemployment rates below the U.S. average, 167 areas had rates above it, and 14 areas had rates equal to that of the nation. - Of the 372 metropolitan areas, eight areas had jobless rates of at least 10.0% and an impressive 144 areas had rates below 5.0%. The rest hovered around the national average. - Employment increased in 318 of 372 metropolitan areas, decreased in 46 areas and was unchanged in 8 areas. - The largest over-the-year employment increases occurred in New York, Northern New Jersey, Long Island, N.Y., N.J.- Pa. (+123,900), Houston-Sugar Land-Baytown, Texas (+120,600) and Dallas-Fort Worth-Arlington, Texas (+111,900). 9 Metropolitan employment data from previous month. Source: BLS
  10. 10. Mid-Atlantic Region – October 2014 • Unemployment rate of 6.0% (-0.1% from September) • Philadelphia City, PA had the largest rate decline from a year earlier (- 2.8%) • New Jersey reported highest unemployment rate at 6.6% • Pennsylvania reported the lowest unemployment rate at 5.4% • • States: OPTIONAL SLIDE - Delaware - District of Columbia - Maryland - Pennsylvania - Virginia - West Virginia Metropolitan employment data from previous month. Source: BLS 10
  11. 11. Midwest Region – October 2014 • The Midwest reported an impressive unemployment rate of 5.6% (-0.1%) • North Dakota had the lowest unemployment rate of 2.8% • Illinois has seen the largest net change in unemployment, with a drop of -2.5% in the last 12 months • Michigan had the highest unemployment rate at 7.1 (-0.1 from the previous month) • • States: OPTIONAL SLIDE - Illinois - Indiana - Iowa - Kansas - Michigan - Minnesota - Missouri - Nebraska - North Dakota - Ohio - South Dakota - Wisconsin Metropolitan employment data from previous month. Source: BLS 11
  12. 12. Mountain-Plains Region – October 2014 • Colorado had the largest unemployment rate decrease of 2.2% from previous year • The largest over-the-month percentage increases occurred in Wyoming (+1.4%) closely followed by Utah (+0.7%) • Missouri had the highest unemployment rate at 5.9% (-0.4% from the previous month) • Utah continues to have one of the lowest unemployment rates in the country, with 3.6 percent (+0.1% from the previous month) • • States: - Colorado - Kansas - Missouri - Montana - Utah - Wyoming OPTIONAL SLIDE Metropolitan employment data from previous month. Source: BLS 12
  13. 13. New England Region – October 2014 • The New England region unemployment rate dropped to 5.9%, a 0.1% decrease • Rhode Island saw one of the largest over-the-month percentage declines in employment, dropping -0.5% to 7.4% • - Rhode Island still had the highest unemployment rate in the region. • New Hampshire recorded the lowest unemployment rate of the region, as it dropped 0.1% to 4.2% in October • States: OPTIONAL SLIDE - Connecticut - Maine - Massachusetts - New Hampshire - Rhode Island - Vermont Metropolitan employment data from previous month. Source: BLS 13
  14. 14. OPTIONAL SLIDE New York, New Jersey Region – October 2014 • The New York unemployment rate dropped .2 percentage points from 6.2% to 6.0%. • The New Jersey unemployment rate increased .1 percentage points to 6.6% • Ithaca, NY had the lowest unemployment rate of the region at 3.9%. • Guayama, PR had the highest unemployment rate at 20.9%. • • States: - New York - New Jersey - Puerto Rico Metropolitan employment data from previous month. Source: BLS http://www.bls.gov/regions/new-york-new-jersey/home.htm 14
  15. 15. Southeast Region – October 2014 • The Southeast region saw both positive and negative results • Florida had one of the largest over-the- • month increases in employment, adding +34,400 new jobs in October, and adding an incredible +206,900 jobs over the past 12 months • Florida also had the lowest overall unemployment rate in the region, at 6.0% • Georgia had the highest unemployment rate in the country, with 7.7%; and Mississippi was closely behind with 7.6% • States: OPTIONAL SLIDE - Alabama - Florida - Georgia - Kentucky - Mississippi - North Carolina - South Carolina - Tennessee Metropolitan employment data from previous month. Source: BLS 15
  16. 16. Southwest Region – October 2014 • The Southwest region’s unemployment rate remained the same in the month of October • Texas had one of the largest over-the-month • increases in employment, adding +35,200 new jobs in October, and the most significant over-the-year job increase, adding a whopping +421,900 jobs since October 2013 • Oklahoma had the lowest unemployment rate of 4.5% (-1.1% over the last year) • New Mexico had the highest rate of unemployment at 6.5% • States: - Arkansas - Louisiana - New Mexico - Oklahoma - Texas OPTIONAL SLIDE Metropolitan employment data from previous month. Source: BLS 16
  17. 17. West Region – October 2014 • The West continued to have the highest unemployment rate in the country at 6.5 percent (the same as the previous month) • Both Hawaii and Idaho touted the lowest unemployment rate of 4.1% • California has experienced the largest over-the-month job increases by adding 41,500 in October, and 319,500 over the last year • - However, California has the highest unemployment rate at 7.3% • States: OPTIONAL SLIDE - Alaska - Arizona - California - Hawaii - Idaho - Nevada - Oregon - Washington Metropolitan employment data from previous month. Source: BLS 17

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