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Business forward 130805v1


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Business forward 130805v1

  1. 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. 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. 3. DRAFT 22Filename/RPS Number Office of the Chief Economist2 Steady unemployment decline since end 2009
  4. 4. DRAFT 33Filename/RPS Number Office of the Chief Economist3 Retail Trade led job growth this month
  5. 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. 6. DRAFT 55Filename/RPS Number Office of the Chief Economist5 Long-term unemployed share falling
  7. 7. DRAFT 66Filename/RPS Number Office of the Chief Economist6 The real value added of manufacturing output continues to increase
  8. 8. DRAFT 77Filename/RPS Number Office of the Chief Economist7 However, manufacturing accounts for a declining portion of GDP and total employment
  9. 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. 10. DRAFT 99Filename/RPS Number Office of the Chief Economist9 Employment in the Auto Industry is a bright spot in the recovery
  11. 11. DRAFT 1010Filename/RPS Number Office of the Chief Economist10 Thank you!