Adecco USA Job Market Update June 2014
 

Adecco USA Job Market Update June 2014

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Adecco USA Job Market Update June 2014 Adecco USA Job Market Update June 2014 Presentation Transcript

  • • Job Market Update U.S. Economic Data Reflective of the Bureau of Labor Statistics “The Employment Situation – June 2014” As of July 2014
  • • Overview of “The Employment Situation” • As recently as June 2014, total nonfarm payroll employment increased by 288,000 - Employer hiring increased - 5th straight month of 200,000+ job gains - US added over a million jobs thus far in 2014 • Revisions to prior month, May: - April and May stats were 29,000 more than originally reported (still impressive at 282,000) - May payroll numbers revised from +217,000 to +223,000 - April payroll numbers revised from +282,000 to +304,000 2
  • • 288,000 new jobs added in May 201 149 202 164 237 274 84 144 222 203 304 224 288 JUN- 13 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN- 14 InThousands 3 * Numbers are seasonally adjusted. Source: BLS
  • • Unemployment rate declined in June • Total nonfarm payroll employment surged, rising by 288,000 - Unemployment rate declined by 1.4% over past year - Unemployed persons declined by 2.3 million • Long-term unemployed (jobless for 27+ weeks) – 3.1 million - Decrease of 293,000 - Since June 2013 – decrease of 1.2 million • Discouraged workers – 676,000 - Decrease of 351,000 from previous year 4 JOBS GAINED IN MAY UNEMPLOYMENT RATE LOWEST UNEMPLOYMET RATE SINCE 288,000 6.1% SEPT 2008
  • • June’s job creation statistics impressive • United States private sector generated over 262,000 jobs in June - Employment rate back to pre-recession conditions - US has more jobs than in over four years - Over-the-year, unemployment rate has dropped by approximately .02% (+2,495 people) 5 Source: BLS
  • • Industry Breakdown Professional & Business Services • Increase of 67,000 jobs (up +12,000 from previous month) - Computer systems design and related services: +6,900 new jobs (1.76 million total workforce) - Management consulting: +8,200 new jobs (1.22 million total workforce) - Temporary help services: +10,100 (2.86 million total workforce) • Total Americans employed in this sector during June: 19.22 million Healthcare • Increase of 33,700 jobs - Ambulatory services: +13,100 jobs (6.66 million total workforce) - Home Health services: +3,500 jobs (1.28 million total workforce) - Nursing & residential care: +5,700 jobs (3.26 million total workforce) • Healthcare industry at an all-time high in terms of job availability Temporary Help Services • Increase of +10,100 jobs • Since June 2013, have growth of 2.86 million people employed 6 Source: BLS
  • • Industry Breakdown Leisure & Hospitality • Increase of +39,000 jobs - Food services & drinking places: +32,800 jobs (10.66 million total workforce) - Accommodations: +2,200 jobs (1.88 million total workforce) • Total Americans employed in this sector during June: 14.64 million • Construction • Increase of 6,000 jobs - Heavy & civil engineering: decline -700 jobs (915,700 total workforce) - Non residential specialty trade contractors: decline -1,400 jobs (2.13 million total workforce) - Residential building: +4,500 jobs (660,000 million total workforce) • Total Americans employed in this sector during June: 6 million Retail Trade • Increase of +40,000 jobs (up +27,500 from previous month) - Building material and garden supply store: +7,600 jobs (1.23 million total workforce) - Electronics and appliance stores: +6,700 jobs (503,000 total workforce) - Food and beverage stores: +6,000 jobs (3 million total workforce • Total Americans employed in the sector during June: 15.35 million 7
  • • Employment in total non-farm 4 6 16 15.1 40.2 16.6 9 17 67 38 39 10.1 -6 26 -20 0 20 40 60 80 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 Over-the-month change, June 2014 8 * Numbers are seasonally adjusted in thousands. Source: BLS, Current Employment Statistics Survey, June 2014
  • • Metropolitan employment improving across the country – May 2014 • Regional and state unemployment rates saw little change in the United States metropolitan areas • In May, the national unemployment rate held at 6.3% points after April’s drop of 0.4%, proving to be 1.2% lower than previous year - Bismarck, North Dakota — at 2.2%—led the nation with the lowest unemployment rate (a decline of 0.4% from May). - 21 states had jobless rates significantly lower than the US figure of 6.3%, while 8 states and DC had higher rates, and 21 states had rates that were not measurably different than the national average. - Employment increased in 295 of the 372 metropolitan areas, decreased in 68 areas, and was unchanged in 9 areas - All of the 34 metropolitan regional divisions had over-the-year employment gains since May 2013 • Largest over-the-year percentage increases: Dallas-Fort Worth-Arlington, TX (+3.7%), Austin- Round Rock- San Marcos, TX (+3.6%), Orlando-Kissimmee-Sanford, FL and San Jose- Sunnyvale-Santa Clara, CA (+3.4% each) 9 OPTIONAL SLIDE Metropolitan employment data from previous month. Source: BLS
  • • Mid-Atlantic Region – May 2014 • Unemployment rate 6.4% (same as the previous month) • Philadelphia, PA had the largest rate decline from previous year (-2.3% points) - Recorded the highest unemployment rate in the region with 7.2% • State College, PA once again reported lowest unemployment rate at 4.1% • States: - New Jersey - New York - Pennsylvania 10 OPTIONAL SLIDE Metropolitan employment data from previous month. Source: BLS
  • • Midwest Region – May 2014 • Unemployment rate 6.0% • By state – North Dakota had lowest unemployment rate of 2.6% • By city – Bismarck, North Dakota had the lowest rate of 2.2% (-0.3% from previous month) • Largest over-the-year percentages increase in job growth also occurred in North Dakota (+4.6%) • States: - Illinois - Indiana - Iowa - Kansas - Michigan - Minnesota - Missouri - Nebraska - North Dakota - Ohio - South Dakota - Wisconsin 11 OPTIONAL SLIDE Metropolitan employment data from previous month. Source: BLS
  • • Mountain-Plains Region – May 2014 • By state – Nevada had the largest unemployment rate decrease at 3.9% from previous year - Still came in last in the region with 8% unemployment (-0.2 from previous month) • By city – Yuma, AZ has largest unemployment rates in the country at 26.5% (+2.5% from previous month) • States: - Alaska - Arizona - California - Colorado - Hawaii - Idaho - Montana - Nevada - New Mexico - Oregon - Utah - Washington - Wyoming 12 OPTIONAL SLIDE Metropolitan employment data from previous month. Source: BLS
  • • New England Region – May 2014 • Unemployment rate 5.9%% (0.2% decrease) • Vermont Burlington-South Burlington metro area recorded lowest unemployment rate of the region at 2.7% (down 0.2% in previous month) • Highest unemployment rate in Waterbury, CT at 9.2% • States: - Connecticut - Maine - Massachusetts - New Hampshire - Rhode Island - Vermont 13 OPTIONAL SLIDE Metropolitan employment data from previous month. Source: BLS
  • • Southeast Region – May 2014 • Unemployment rate increased to 6.0% • By state – South Carolina (-2.6%) and Tennessee (-2.0%) had the largest unemployment rate declines from May 2013 • Florida had one of the largest over- the-moth employment decreases, with -17,900 jobs. • By city – Greenville, NC and Crestview-Fort Walton Beach-Destin, FL tied with the lowest unemployment rates in the region at 4.4% respectively. • States: - Delaware - District of Columbia - Florida - Georgia - Maryland - North Carolina - South Carolina - Virginia - West Virginia - East South Central - Alabama - Kentucky - Mississippi - Tennessee 14 OPTIONAL SLIDE Metropolitan employment data from previous month. Source: BLS
  • • Southwest Region – May 2014 • Unemployment rate 5.2% (unchanged from previous month) • By state – Oklahoma had the lowest unemployment rate of 4.6% • By city – Pine Bluff, AR areas had highest unemployment rate at 8.4% • Texas saw the largest over-the-month increases in employment across the US with 56,400 new jobs • States: - Arkansas - Louisiana - Oklahoma - Texas 15 OPTIONAL SLIDE Metropolitan employment data from previous month. Source: BLS
  • • West Region – May 2014 • Unemployment rate 6.9%, a decline of -0.1% from previous month (highest regional unemployment rate) • By state – Utah had the lowest unemployment rate of 3.6% - Logan, UT-ID – 2.5% • California had the largest over-the- year job increased adding 340,200 since May 2013 - Overall jobless rate of 7.6% - El Centro, CA had the highest unemployment rate in the state at 21.1% • States: - Alaska - Arizona - California - Colorado - Hawaii - Idaho - Montana - Nevada - New Mexico - Oregon - Utah - Washington - Wyoming 16 OPTIONAL SLIDE Metropolitan employment data from previous month. Source: BLS
  • • Questions?