Business forward 130805v1
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  • 1. DRAFT 00Filename/RPS Number Office of the Chief Economist0 The Labor Market Situation August 5, 2013 Dr. Jennifer Hunt Chief Economist US Department of Labor Office of the Chief Economist
  • 2. DRAFT 11Filename/RPS Number Office of the Chief Economist1 Steady job growth since February 2010 Over-the-month change, in thousands • July: 161 • June: 196 • May: 187 12-month change, in thousands • June 2012 to June 2013: 2,315 • Average: 193
  • 3. DRAFT 22Filename/RPS Number Office of the Chief Economist2 Steady unemployment decline since end 2009
  • 4. DRAFT 33Filename/RPS Number Office of the Chief Economist3 Retail Trade led job growth this month
  • 5. DRAFT 44Filename/RPS Number Office of the Chief Economist4 Since the end of the recession, many industries have not recovered their employment losses
  • 6. DRAFT 55Filename/RPS Number Office of the Chief Economist5 Long-term unemployed share falling
  • 7. DRAFT 66Filename/RPS Number Office of the Chief Economist6 The real value added of manufacturing output continues to increase
  • 8. DRAFT 77Filename/RPS Number Office of the Chief Economist7 However, manufacturing accounts for a declining portion of GDP and total employment
  • 9. DRAFT 88Filename/RPS Number Office of the Chief Economist8 Auto Sales are at pre-recession levels 8.0 10.0 12.0 14.0 16.0 18.0 20.0 22.0 salesvolume,seasonallyadjustedannualrate,inmillions Domestic Light Vehicle Sales Source: Haver Analytics
  • 10. DRAFT 99Filename/RPS Number Office of the Chief Economist9 Employment in the Auto Industry is a bright spot in the recovery
  • 11. DRAFT 1010Filename/RPS Number Office of the Chief Economist10 Thank you!