Employment state of affairs in a Nutshell- November 2013
Updated : December 13th, 2013
On December 6, 2013, the bureau of labor statistics (department of Labor), released their monthly publication on employment situation. The news release carries all-inclusive scrutiny of various employment statistics collated for November.
We have broken it down for you to understand how this will impact you as an individual.
The overall unemployment rate fell from 7.3 (October 2013) to 7.0 percent in November. Employment surged in transportation & warehousing, healthcare and manufacturing bringing much relief to a large class of unemployed populace. The no. of unemployed persons across the country stood at 10.9 million at the end of November.
The temporary layoffs decreased by a massive 377,000 in the month. This mostly reflects the return to work of federal employees who were furloughed in October due to the partial government shutdown.
Sentiment of Part time Employment
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) fell by 331,000 to 7.7 million in November. These individuals were working part time because their hours had been cut back or because they were unable to find a full time job. This is uplifting as most of the part time workers are actively seeking full time jobs. This website receives significant numbers of questions in the Q & A section on UI claims from part time workers.
Tour across Industries & Establishments
Employment in transportation and warehousing rose by 31,000 in November
Health care employment continued to increase over the month (+28,000)
In November, manufacturing added 27,000 jobs
Employment in professional and business services continued to trend up (+35,000)
Retail trade employment also continued to expand in November (+22,000)
Within leisure and hospitality, employment in food services and drinking places continued to trend up in November (+18,000)
Employment in construction continued to trend up in November (+17,000)
Federal government employment continued to decline (-7,000) in November
The average workweek for all employees on private nonfarm payrolls edged up by 0.1 hour to 34.5 hours.
The average hourly earnings for all employees on private nonfarm payrolls rose by 4 cents to $24.15.
Unemployment Status of Metropolitan Areas (October 2013)
Unemployment rates were lower in October this year compared to an year earlier in 280 of the 372 metropolitan areas, higher in 79 areas, and unchanged in 13 areas. Twenty-three areas had unemployment rates of at least 10.0 percent, and 57 areas had rates of less than 5.0 percent.
Yuma, Arizona at 31.9 and El Centro, California-25.2 clocked the highest unemployment rates in November. Bismarck, N.D., had the lowest rate, 1.7 percent. The national average during this month was 7 percent.
Of the 49 metropolitan areas with a Census 2000 population of 1 million or more, Riverside-San Bernardino-Ontario, California had the highest unemployment rate in October, 9.8 percent. Minneapolis-St. Paul-Bloomington, Minnesota -Wisconsin had the lowest rate among the large areas, 4.1 percent.
Wrapping up, there is a strong sentiment of better days in near future across establishments and industry. Most importantly, these numbers will have a demeanour on you. We hope the data and facts presented above were effortless for you to comprehend.
Use our Q & A section if you have any questions on unemployment.