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Workplace Economy Slides March 20113 9

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Reflective of the February 2011 National Jobs Report from the Bureau of Labor Statistics

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Workplace Economy Slides March 20113 9

  1. 1. Economic data As of March 2011 Reflective of the February 2011 National Jobs Report from the Bureau of Labor Statistics
  2. 2. Private and temporary sector growth continues JOBS GAINED IN FEBRUARY UNEMPLOYMENT RATE WORST UNEMPLOYMENT RATE SINCE 192,000 8.9% 1983 *Current recession excluded
  3. 3. Unemployment rate decreases to 8.9% Source: Labor Department
  4. 4. Two years in unemployment data Source: Washington Post
  5. 5. ere A look at monthly job changes Source: US News & World Report
  6. 6. The potential paces of recovery Source: WashingtonPost.com
  7. 7. Average length of unemployment Source: WallStreetJournal.com
  8. 8. Leisure & Hospitality Construction Manufacturing Retail Legal Accounting Architecture/Engineering Financial Activities IT/Technical Healthcare Temporary +33 +21 +33 -8.1 -2.9 -2.3 +3.1 +3 +10.8 +34.3 +15.5 In thousands Sector changes for February
  9. 9. Education continues to be the job search differentiator…
  10. 10. Metropolitan unemployment snapshot…
  11. 11. Comparing recoveries: Job changes Source: NYTimes.com
  12. 12. Source: NYTimes.com Spotlight on Manufacturing
  13. 13. ere Decreasing jobless claims
  14. 14. Private sector grows with the lag of the public sector Source: NYTimes.com
  15. 15. <ul><li>The February jobs report shows real signs of recovery yet economists worry of shaky economic ground with rising oil prices and Middle East unrest … </li></ul><ul><li>Opportunities </li></ul><ul><ul><li>The unemployment rate drop to 8.9% marks the third month of increasing employment </li></ul></ul><ul><ul><li>Temporary jobs rebounded from January’s losses adding 15,500 jobs </li></ul></ul><ul><ul><li>The private sector gaining 222,000 jobs in February indicates increasing strength outpacing the public sector </li></ul></ul><ul><ul><li>The report included revisions increased hiring numbers for both December and January </li></ul></ul><ul><li>Weaknesses </li></ul><ul><ul><li>Economists expect the unemployment rate might rise again before steadily falling </li></ul></ul><ul><ul><li>The average work week remained stagnant at 34.2 hours </li></ul></ul><ul><ul><li>Certain sectors remain stronger than others, while construction and manufacturing added jobs in February, the overall strength of the industry is depleted following the recession </li></ul></ul>In summary

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