FileUnemployment

Over the last couple of months, the unemployment rate in the country has remained stable without much dilly-dallying. As per the monthly news release from the Bureau of Labor Statistics, U.S Department of Labor, the national unemployment rate in July 2016 was 4.9%, the same as June.

During this month, the might of various industries added over 255,000 jobs to the U.S economy. The highest job creator was Professional & Business Services followed by Health Care. Mining continued to disappoint with some heavy job losses occurring in this sector. As our duty has been every month, let’s go ahead and explore this monthly news release and provide you the numbers across various categories.

Unemployment Rate Among Major Workers Groups

  • Adult Men – 4.6%
  • Adult Women – 4.3%
  • Teenagers – 15.6%

Except Adult Men, the other two categories witnessed reduction in unemployment numbers. While Adult Women was down 0.1 percentage points, Teenagers recorded a drop of 0.4 percent from June 2016. This is welcome news for the stakeholders since the joblessness among Teenagers refused to drop over the last three months.

Unemployment Rate Among Ethnic Groups

  • Blacks – 8.4%
  • Asians – 3.8%
  • Whites – 4.3%
  • Hispanics – 5.4%

Nearly all ethnic groups except “Blacks” showed slight improvement from last month. Unemployment among Blacks continues to be a cause of worry for Labor authorities across various states in the country.

General Highlights

  • Citizens falling under the category of unemployed less than 5 weeks saw a massive drop of 258,000.
  • On the contrary, the number of long-term unemployed persons remained the same as last month. The number of people falling in this category was 2.0 million (jobless for 27 weeks or more).
  • A little over 5.9 million people were categorized as part-time for economic reasons, nearly the same as June.
  • During the starting month of the second half of the calendar year, 2.0 million people came under the category of marginally attached to the labor force, nearly the same as July 2015.

Employment Data in Various Industries (Top Highlights)

1) Professional & Business Services was the star of the month as it added 70,000 jobs, the highest from any sector in July. Over the last 12 months, this industry alone has added a whopping 550,000 jobs to the economy.

  • Professional & Technical Services: +37,000 jobs
  • Computer systems design & related services: +8,000 jobs

2) Health Care was the second highest job creator with 43,000 new employment opportunities added during this month.

  • Ambulatory health care services: +19,000 jobs
  • Hospitals: +17,000 jobs

3) Mining lost 6,000 jobs during the month. Since September 2014, this sector has been witnessing job loss, month on month.

Other Highlights
  • The average workweek for all employees edged up by 0.1 hour to clock 34.5 hours in this month.
  • The manufacturing workweek remained stable at 40.7 hours and the average overtime was 3.3 hours during this month.
  • The average hourly earnings for all employees was $25.69, up by 8 cents from June.
  • The average hourly earnings of production and nonsupervisory employees in the private sector was $21.59, up by 7 cents.

After months’ of constant fall and to being the lowest in years since the recession in May 2008, the unemployment rate rose by 0.2 percentage points to clock 4.9 percent during June 2016. The economy added 287K jobs led by Leisure and Hospitality followed and Healthcare. At the end of this month, the number of unemployed persons in the country was 7.8 million.

Let’s go ahead and explore key statistics from the monthly news release from the Bureau of Labor Statistics, U.S Department of Labor Titled “The Employment Situation – June 2016”.

Unemployment Rate Among Major Workers Groups

  • Adult Men – 4.5%
  • Adult Women – 4.5%
  • Teenagers – 16.0%

While the jobless rates for adult men and women edged up by 0.3 percentage points, the category of teenagers remained stable. It must be noted that over the last couple of months, employment among teenagers has seen little improvement.

Unemployment Rate Among Ethnic Groups

  • Blacks – 8.6%
  • Asians – 3.5%
  • Whites – 4.4%
  • Hispanics – 5.8%

Except Asians, all other ethnic groups witnessed a fall in employment. The former dropped a considerable 0.6 percentage points from last month to clock the best performance among all groups. Blacks continue to lead the table with the highest unemployment in this category.

General Highlights

  • The numbers of persons falling in the category of “unemployed less than 5 weeks” went up by 211,000 during this month compared to June 2016.
  • On the flipside, persons categorized as long-term unemployed was stable at 2.0 million. This category consists of people who remained jobless for 27 weeks or more. This category alone accounts for 25.8% of the total unemployed population.
  • The number of persons falling under the category of part-time for economic reasons fell by 587,000 to clock 5.8 million in this month. Such persons worked part-time due to involuntary reasons.
  • The category of marginally attached to the labor force consisted of 1.8 million persons. Here, jobless workers had not looked for a job 4 weeks before the survey.

Employment Data in Various Industries (Top Highlights)

  1. The leisure and hospitality sector added 59,000 during June, making it the highest grosser in terms of job creations.
  • Food services & drinking places: +22,000 jobs
  • Performing arts and spectator sports: +14,000 jobs

2) Healthcare and social assistance were the second highest job creators during this month with 58,000 jobs.

  • Ambulatory health services: +19,000 jobs
  • Hospitals: +15,000

3) Mining continued to tumble by losing 6,000 jobs during this month. Since September 2014, this sector has lost a whopping 211,000 jobs.

Other Highlights

  • The average workweek for all employees remained the same as previous month – 34.4 hours.
  • The manufacturing workweek went down by 0.1 hours to clock 40.7 hours and the average overtime was 3.3 hours during this month.
  • The average hourly earnings for all employees was $25.61, up by 6 cents from last month.
  • The average hourly earnings of production and nonsupervisory employees in the private sector was $21.51, up by 2 cents.

 

In continuation with our monthly publication on the unemployment situation in the country, let us uncover the news release from Bureau of Labor Statistics, U.S Department of Labor, titled “The Unemployment Situation – February 2016” which provides a multi angle view on the employment/unemployment conditions.

During February 2016, the economy added a little over 242,000 jobs while the unemployment rate at 4.9 % was the same as January. Most of the major industries made considerable progress during this month led by health care and social assistance, retail trade and others. Mining continued to see a slump as it suffered the highest number of job losses.

Unemployment Rate Among Major Workers Groups

Over the year, the jobless rate was down by 0.6 percentage points owing to reduction in the jobless persons by a whopping 831,000.

Unemployment Rate Among Ethnic Groups

  • Blacks – 8.8%
  • Asians – 3.8%
  • Whites – 4.3%
  • Hispanics – 5.4%

Employment among Hispanics is noticeable this month as there was a reduction in the rate by 0.5 percentage points. Other ethnic groups more or less held on to their rates registered in January.

General Highlights

  • A little over 2.2 million people remained to be categorized as long-term unemployed (jobless for 27 weeks and above) and accounted for 27.7 percent of the jobless persons overall.
  • Among the unemployed persons, 6.0 million worked part time for economic reasons in February. Workers in this category did not work full time due to involuntary reasons such as reduction in the hours worked by the employer.
  • People falling in the category of marginally attached to the labor force were 1.8 million, down by about 356,000 from the same period last year.
  • In the category above, 599,000 were classified as discouraged workers during February 2016, down by 133,000 from the same month in 2015.

Employment Data in Various Industries (Top Highlights)

1) Health care and social assistance was the highest grosser in February with addition of 57,000 jobs.

  • Ambulatory health care services +24,000
  • Hospitals +11,000

2) Retail Trade continues to see solid growth with creation of 55,000 jobs in February. Over a period of last 12 months, it has made a significant contribution to the success story by adding 339,000 plus jobs.

  • Food & beverage stores +15,000
  • General merchandise stores +13,000

3) Mining saw the biggest slump with 19,000 plus job losses. Since the third quarter of 2014, this industry has recorded 171,000 job losses.

  • Support activities for mining -16,000
  • Coal mining -2,000

Other Highlights

  • In February 2016, the average workweek for all employees was down by 0.2 hours to 34.4 hours.
  • The average hourly earnings for all employees was $25.35, down by 3 cents. The average earnings has steadily risen by 2.2 percent over the year.
  • The average hourly earnings for employees in production and nonsupervisory roles remained stagnant at $21.32.

 

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