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Job Market Update October, 2015

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Data from the Bureau of Labor Statistics' Employment Situation Report as of November, 2015.

Published in: Economy & Finance, Business

Job Market Update October, 2015

  1. 1. • Job Market Update U.S. Economic Data Reflective of the Bureau of Labor Statistics “The Employment Situation – October 2015” As of November 2015
  2. 2. • Overview of “The Employment Situation” • The October report showed an overall monthly gain of 271,000 jobs – a whopping 40,000 more jobs than the 12- month average of 230,000 per month. • The unemployment rate dropped slightly to 5.0% • Revisions to prior months: - The August number was revised from +136,000 to +153,000 - The September number was revised from +142,000 to +137,000 - That’s a total of 12,000 more jobs than was previously reported 2
  3. 3. • 271,000 new jobs added in October 221 423 329 201 266 119 187 260 245 223 153 137 271 OCT-14 NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT InThousands 3 * Numbers are seasonally adjusted. Source: BLS
  4. 4. • Employment in October • Number of unemployed persons is down by 1.1 million, year-over-year - Unemployment dropped to 5.0%, the lowest since April, 2008. - The number of long-term unemployed was little changed at 2.1 million. - The number of involuntary part-time workers decreased by 269,000 in October. - Discouraged workers in October increased by 11,000 - Average hourly payrolls increased by 9 cents, to $25.20 4 JOBS GAINED IN OCTOBER UNEMPLOYMENT RATE 271,000 5.0%
  5. 5. • Industry Breakdown 5 Source: BLS
  6. 6. • Industry Breakdown 6
  7. 7. • Employment in total nonfarm -4.0 31 0 9.7 43.8 -2.1 -1 5 78 57 41 24.5 10 3 -10.0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 Mining and logging Construc on Manufacturing Wholesale trade Retail trade Transporta on and warehousing Informa on Financial ac vi es Professional and Business services Educa on and health services Leisure and hospitality Temporary help services Other services Government Over-the-monthchange, October 2015 7 * Numbers are seasonally adjusted in thousands. Source: BLS, Current Employment Statistics Survey, September 2015
  8. 8. • State & Regional Report – September 2015 • State and Regional unemployment rates were little changed in September. • 37 states reported an increase in employment from the prior month, plus the District of Columbia, while six states reported decreases and seven states reported no change. - Over the year, 46 states and the District of Columbia have reported increases • The Midwest had the lowest regional unemployment rate at 4.5% (falling from 4.6%), and the West had the highest unemployment rate at 5.6% (falling from 5.7%). • Texas (+26,600), New York (+12,000) and Georgia (+9,100) reported the most significant over-the-month employment increases in September. • Missouri (-16,500), Pennsylvania (-16,400) and Michigan (-9,800) had the greatest decrease in employment in September. 8 State and regional employment data from previous month. Source: BLS
  9. 9. • Northeast Division – September 2015 9 State and regional employment data from previous month. Source: BLS
  10. 10. • South Division – September 2015 10 State and regional employment data from previous month. Source: BLS
  11. 11. • Midwest Division – September 2015 11 State and regional employment data from previous month. Source: BLS
  12. 12. • West Division – September 2015 12 State and regional employment data from previous month. Source: BLS

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