Employment Situation Across USA – July 2015 (Household & Establishment)
The Bureau of Labor Statistics, U.S Department of Labor on Friday, August 7, unveiled its monthly publication on employment situation in the country. Based on data from Household and Establishment survey, this release throws light on the overall footing of the employment/unemployment statistics during the month of July. We bring to you, a synopsis of this report(check the articles section to find updates from previous month).
The Unemployment rate stood strong at 5.3% during July 2015 and the month saw about 215,000 jobs being infused into the system(Non Farm Payroll Employment). A little over 8.3 million citizens remain unemployed, down by about 1.4 million during the same month last year.
Trade, Retail, Professional & Technical services, Healthcare, Financial activities saw maximum movement in terms of job additions.
Household Survey Data
Unemployment Rate Among Major Workers Groups
- Adult Men – 4.8%
- Adult Women – 4.9%
- Teenagers – 16.2%
The Unemployment rate for Teenagers saw a considerable decline while the other two categories saw little change from last month.
Unemployment Rate Among Ethnic Groups
- Blacks – 9.1%
- Asians – 4.0%
- Whites – 4.6%
- Hispanics – 6.8%
None of the categories above witnessed a major change from June 2015. They largely remained stable.
- Unemployment among new Entrants(People who’re seeking job for the first time) decreased by 107,000 during this month.
- The number of long term unemployed(jobless for 27 weeks or more) was 2.2 million, down by about 986,000, when compared to the same month last year.
- The number of part time workers for economic reasons hovered around 6.3 million. This category of workers are unable to work full time due to various involuntary reasons.
- The number of persons marginally attached to the labor force was down by 251,000 from last year. Individuals falling in this category are able and available to work but had not searched for jobs in 4 weeks preceding this survey. At the end of July 2015, there were 1.9 million people classified into this category.
- Among the 1.9 million falling in the category above, about 668,000 were categorised as Discouraged Workers. Unemployed persons falling under this category were not looking for a job(during survey) as they believed no jobs were available for them.
Establishment Survey Data
Employment Data in Various Industries(Top Performing)
1) Retail Trade, the biggest beneficiary of job growth added 36,000 jobs in the month of July. Over the year, the job creations increased by a whopping 322,000.
- Motor Vehicles & Parts Dealers – + 13,000 jobs
- Merchandise Stores – + 6,000 jobs
2) Healthcare also witnessed significant growth by adding 28,000 jobs in July 2015 over the month and 436,000 jobs over the year.
- Hospitals – +16,000 jobs
3) Professional & Technical Services witnessed addition of 27,000 jobs during this month. Over the year, this sector fared well with additions of 301,000 jobs.
- Computer Systems Design and Related Services – +9,000 jobs
- Architectural & Engineering Services – +6,000 jobs
- Management of Companies & Enterprises – +14,000
Other sectors such as Manufacturing(+15,000), Food Services & Drinking Places(+29,000), Transportation and Warehousing(+14,000) were the other leaders with significant growth figures. The Mining sector lost about 5,000 jobs during this month. This sector has seen a considerable fall with over 78,000 jobs lost since the beginning of this year.
- The average workweek for all employees rose by 0.1 hour to 34.6 hours during this month.
- Average workweek for workers in the manufacturing sector stood at 40.7 hours, up by 0.1 hours, month on month.
- The average hourly earnings was up by 5 cents to $24.99. Compared to the same month last year, it was up by 2.1%.
While employment across key industries continues to see an upward trend, there will be job losses at the macro level. If you’re are currently unemployed due to involuntary reasons such as lay offs, you can apply for and claim Unemployment Insurance for up to 26 weeks that helps you manage, basic expenses of life.