Employment Situation across USA – September 2014
The Bureau of Labor Statistics, U.S department of Labor, released its monthly report on employment situation across the country. This data sheet was in form of a news release that was published on Friday, October 3rd 2014 –“The Employment Situation — September 2014”
Our efforts are to keep readers & patrons updated on the latest news on employment situation in the country. We have decoded this extravagant fact sheet and we present the data that matters to you the most.
There is joyful news this time around. The national average jobless rate for September 2014 is 5.9, which is a 0.2 percentage points shrinkage from August 2014. This is significantly the lowest since the onset and retreat of recession in the country.
Around 248,000 jobs were added during this month which is a sharp rise of about 42.74 % when compared to August 2014, where about 142,000 jobs were added. This is an ice breaker figure and represents affirmative times ahead for the nation.
The number of unemployed persons was down by 329,000 to about 9.3 million. Year on Year, the unemployment rate and the number of unemployed persons were down by 1.3 percentage points and 1.9 million, respectively.
Household Survey Data
Unemployment rates for major worker groups are as below.
Adult men (5.3), Adult women (5.5), Teenagers (20.0)
Whites (5.1), Blacks (11.0), Hispanics (6.9), Asians (4.3)
These rates are not seasonally adjusted.
- The number of long-term unemployed (those jobless for 27 weeks or more) remained stagnant at 3.0 million. These individuals constitute about 31.9 % of the total unemployed.
- The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) during September was 7.1 million. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.
Establishment Survey Data
Total nonfarm payroll employment increased by 248,000 in September, compared with an average monthly gain of 213,000 over the prior 12 months. Professional & business services, retail trade & healthcare sectors saw growth in jobs.
- Professional and business services added 81,000 jobs during the month
- Job growth in retail trade rose by 35,000
- Employment in health care increased by 23,000
- Information sector added 12,000 jobs with a gain of 5,000 in telecommunications
- Mining added 9,000 jobs during this month
- Food services and drinking places added a significant number of jobs(20,000)
- Construction industry also saw an upward trend which added about 16,000 jobs
The average workweek for all employees on nonfarm employment went up by a meagre 0.1 hour to 34.6 hours.
Average hourly earnings for all employees on private nonfarm payroll stood at $ 24.53 which is an increase of 2.0 per cent, year on year.
If you’re unemployed and looking forward to claiming unemployment compensation for the first time, we suggest that you read our informative guide before applying to help you understand the UI system.