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Hiring weak in January, with only 49,000 jobs created

U.S. Employment Report




The economy added a meager 49,000 non-farm jobs in January and the unemployment rate improved to 6.3 %, from 6.7 %, on the seasonally adjusted basis, reported by the U.S. Labor Department.

The weak job growth just confirms that business aren’t about to embark on any major hiring plans until the situation clears up. Total number of employed persons in the U.S. rose by 0.13 % to 150,03 millions, as professional and business services sectors created 97,000 new jobs, the leisure and hospitality sectors fared poorly by cutting -61,000 jobs.


At Jan. 2021 Total number of unemployed persons deacreased to 10.13 millions, a deacrease of 606.00 thousands or -5.64 % from Dec. 2020, Unemployment rate decreased to 6.30 %, from 6.70% in previous month. In January 49,000 nonfarm payrolls were created.


Labor force
Average workweek increased in January on the seasonally adjusted basis by 0.86 % to 35.00 hours, an increase of $0.30 from 34.70 in December, reported by the Labor Department.
With modest increase in hourly earnings and increase in hours worked, average weekly earnings increased in the private sector to $1,048.60 from $1,037.53 in the previous month.

The number of employed persons increased to 150.03 millions by 201.00 thousands or 0.13 % in Jan. 2021.

Total Labor force deacreased to 160.16 millions.
Average weekly earnings where $1,048.60 dollars, in Jan. 2021


Average Weekly Hours of Production
The official unemployment rate does not tell the whole story since it does not count discouraged workers who recently stopped looking for a job. The number of unemployed people dropped to 10.13 million, a decrease by -606,000 from 10.74 million in December by -5.64 % on the seasonally adjusted basis.
What's more, the drop in the unemployment rate in January stemmed mainly from a decline in the labor force as discouraged job seekers stopped looking for work, driving the employment participation rate down -0.10 % to 61.40 %.


 Employement situation (Picture Autor: Flickr by Brad & Sabrina at http://flickr.com/photos/19078064@N00/184665954) The January employment report showed a slight increase in workers' hourly wages by 0.20 % to $29.96, an increase of $0.06 from $29.90 in December on the seasonally adjusted basis, the surging retail sector increased hourly wages the most to $21.77, the education and health services sectors fared poorly with declining hourly earnings to $29.28, reported by the U.S. Labor Department.
Improving wages are one of the major contributors to the fast rate of hiring since consumption accounts for as much as 70% of U.S. growth. When people have more to spend, business have enough demand for their goods and services to hire more workers.

Construction Industry grew to 39.30 hours per week, from Dec. 2020; Manufacturing Industry rose to 40.40 hours per week, Durable goods Industry fell to 35.50 hours per week, Nondurable goods Industry remained unchanged.

Average Weekly Hours of Production for private serviceproviding industry rose to 33.90 hours per week, from Dec. 2020; Trade, transportation & utilities Industry grew to 34.50 hours per week, from Dec. 2020 .

Financial activities Industry Average Weekly Hours of Production remained unchanged from Dec. 2020.


Information Industry Average Weekly Hours of Production went up to 37.10 hours per week, from Dec. 2020; Professional & business services Industry increased to 37.00 hours per week, from Dec. 2020;
Education & health services Industry advanced to 33.60 hours per week, from Dec. 2020; Leisure & hospitality Industry advanced to 25.80 hours per week, from Dec. 2020; Other services Industry grew to 32.50 hours per week, from Dec. 2020.





Employment Situation
( in millions or %)
Jan. 2021

prel.
Dec. 2020

prel.
Nov. 2020

prel.
Oct. 2020

prel.
Sep. 2020

prel.
Aug. 2020

prel.
Unemployment rate
6.3 % 6.7 % 6.9 % 7.9 % 7.9 % 8.4 %
Number of unemployed persons
10.130 10.736 11.061 12.580 12.580 13.550
Number of Employed persons
150.031 149.830 149.806 147.563 147.563 147.288
Employment/population ratio
57.5 % 57.4 % 57.4 % 56.6 % 56.6 % 56.5 %
Civilian labor force
160.161 160.567 160.867 160.143 160.143 160.838
Participation rate
61.4 % 61.5 % 61.7 % 61.4 % 61.4 % 61.7 %
Civilian noninstitutional population
260.851 261.230 260.925 260.742 260.742 260.558
Persons who currently want a job outside CLF
6.957 7.331 6.688 7.227 7.227 6.985
EMPLOYMENT BY SELECTED INDUSTRY
(Over-the-month change, in thousands)
Jan. 2021
prel.
Dec. 2020
prel.
Nov. 2020
prel.
Oct. 2020
prel.
Sep. 2020
prel.
Aug. 2020
prel.
Nonfarm Payrolls
+49.0 -227.0 +610.0 +672.0 +661.0 +1,763.0
Total Private Payrolls
+6.0 -204.0 +877.0 +892.0 +877.0 +1,462.0
Goods-producing Payrolls
-4.0 +76.0 +107.0 +97.0 +93.0 +39.0
Mining & logging
+9.0 +3.0 +2.0 +2.0 +1.0 -7.0
Construction
-3.0 +42.0 +72.0 +35.0 +26.0 +20.0
Manufacturing Payrolls
+3.2 +3.2 +3.2 +3.0 +2.9 +2.8
Durable goods
-17.0 +18.0 +16.0 +44.0 +46.0 +15.0
Motor vehicles and parts
-5.3 +3.6 +0.6 +7.7 +14.3 +39.3
Nondurable goods
+7.0 +13.0 +17.0 +16.0 +20.0 +11.0
Private service-providing Payrolls
+10.0 -280.0 +770.0 +795.0 +784.0 +1,423.0
Wholesale trade
+14.3 +15.5 +5.0 +18.9 +18.7 -5.3
Retail trade
-37.8 +134.9 +95.1 +23.4 +142.4 +258.3
Transportation and warehousing
-27.8 -24.1 +62.0 +40.2 +73.6 +37.9
Information
+16.0 +6.0 -28.0 +47.0 +27.0 -15.0
Financial activities
+8.0 +18.0 +30.0 +37.0 +37.0 +21.0
Professional and business services
+97.0 +156.0 +231.0 +122.0 +89.0 +170.0
Temporary help services
+80.9 +64.3 +123.0 +21.8 +8.1 +143.7
Education and health services
-7.0 -31.0 +62.0 +49.0 +40.0 +215.0
Health care and social assistance
-40.8 +39.1 +91.3 +118.0 +107.7 +191.4
Leisure and hospitality
-61.0 -536.0 +270.0 +406.0 +318.0 +592.0
Other services
- - - - - -
Government Payrolls
- - - - - -



Civilian labor force
is the sum of employed and unemployed persons.
 
Unemployment Rate
is the number unemployed as a percent of the labor force.
 
Labor force participation rate
is the labor force as a percent of the population.
 
Employment-population ratio
is the employed as a percent of the population.




Average weekly Salary by Industry ($) Jan. 2021

prel.
Dec. 2020

prel.
Nov. 2020

prel.
Oct. 2020

prel.
Sep. 2020

prel.
Aug. 2020

prel.
Total private
1,048.60 1,037.53 1,026.25 1,025.21 1,022.61 1,018.97
Goods producing
1,215.43 1,208.57 1,204.80 1,199.17 1,198.38 1,197.35
Natural resources & mining
1,554.60 1,550.98 1,563.77 1,558.49 1,547.88 1,545.72
Construction
1,261.92 1,256.75 1,236.17 1,234.23 1,235.00 1,235.00
Manufacturing
1,172.41 1,162.90 1,167.62 1,160.98 1,159.77 1,157.20
Overtime hours
- - - - - -
Durable goods
1,083.11 1,341.56 1,249.60 1,459.01 1,654.13 1,091.72
Nondurable goods
1,052.84 1,052.45 1,058.47 1,055.50 1,052.05 1,047.02
Private serviceproviding
1,012.93 1,004.60 991.69 987.41 988.08 983.81
Trade, transportation & utilities
893.21 874.67 875.14 878.92 877.74 867.16
Wholesale trade
1,288.74 1,272.84 1,264.33 1,257.59 1,253.56 1,249.92
Retail trade
670.52 647.52 651.37 660.02 664.35 649.31
Transportation & warehousing
1,005.87 1,000.51 996.45 990.95 987.24 978.82
Utilities
1,893.04 1,889.19 1,903.90 1,887.91 1,879.65 1,907.37
 
Information
1,655.40 1,639.84 1,646.43 1,595.05 1,593.23 1,603.81
Financial activities
1,487.05 1,477.22 1,461.35 1,435.94 1,435.19 1,426.88
Professional & business services
1,317.94 1,305.05 1,290.52 1,286.63 1,286.99 1,284.07
Education & health services
983.81 986.58 958.44 958.10 958.77 953.24
Leisure & hospitality
444.79 432.18 443.56 445.27 442.52 436.64
Other services
873.28 868.64 855.40 852.07 854.34 851.37




Average weekly hours of production by Industry Jan. 2021

prel.
Dec. 2020

prel.
Nov. 2020

prel.
Oct. 2020

prel.
Sep. 2020

prel.
Aug. 2020

prel.
Total private
35.00 34.70 34.80 34.80 34.70 34.60
Goods producing
40.10 39.90 40.00 39.80 39.80 39.70
Natural resources & mining
45.10 44.80 44.40 44.20 44.20 44.00
Construction
39.30 39.20 38.80 38.80 38.80 38.80
Manufacturing
40.40 40.10 40.50 40.20 40.20 40.00
Overtime hours
- - - - - -
Durable goods
35.50 44.00 41.20 48.20 54.70 35.90
Nondurable goods
39.70 39.70 40.20 39.80 39.70 39.60
Private serviceproviding
33.90 33.70 33.80 33.70 33.70 33.60
Trade, transportation & utilities
34.50 34.10 34.40 34.40 34.30 34.10
Wholesale trade
39.10 38.70 38.70 38.60 38.50 38.40
Retail trade
30.80 30.40 30.90 30.90 30.90 30.70
Transportation & warehousing
39.20 38.90 39.00 38.80 38.70 38.40
Utilities
42.80 42.80 42.90 42.80 42.70 43.30
 
Information
37.10 37.00 36.80 36.50 36.40 36.50
Financial activities
37.80 37.80 37.80 37.60 37.60 37.50
Professional & business services
37.00 36.70 36.60 36.50 36.50 36.50
Education & health services
33.60 33.50 33.50 33.50 33.50 33.40
Leisure & hospitality
25.80 25.20 26.00 26.10 26.00 25.70
Other services
32.50 32.40 32.50 32.30 32.30 32.20




Average hourly earnings ($) Jan. 2021

prel.
Dec. 2020

prel.
Nov. 2020

prel.
Oct. 2020

prel.
Sep. 2020

prel.
Aug. 2020

prel.
Total private
29.96 29.90 29.49 29.46 29.47 29.45
Goods producing
30.31 30.29 30.12 30.13 30.11 30.16
Natural resources & mining
34.47 34.62 35.22 35.26 35.02 35.13
Construction
32.11 32.06 31.86 31.81 31.83 31.83
Manufacturing
29.02 29.00 28.83 28.88 28.85 28.93
Overtime hours
- - - - - -
Durable goods
30.51 30.49 30.33 30.27 30.24 30.41
Nondurable goods
26.52 26.51 26.33 26.52 26.50 26.44
Private serviceproviding
29.88 29.81 29.34 29.30 29.32 29.28
Trade, transportation & utilities
25.89 25.65 25.44 25.55 25.59 25.43
Wholesale trade
32.96 32.89 32.67 32.58 32.56 32.55
Retail trade
21.77 21.30 21.08 21.36 21.50 21.15
Transportation & warehousing
25.66 25.72 25.55 25.54 25.51 25.49
Utilities
44.23 44.14 44.38 44.11 44.02 44.05
 
Information
44.62 44.32 44.74 43.70 43.77 43.94
Financial activities
39.34 39.08 38.66 38.19 38.17 38.05
Professional & business services
35.62 35.56 35.26 35.25 35.26 35.18
Education & health services
29.28 29.45 28.61 28.60 28.62 28.54
Leisure & hospitality
17.24 17.15 17.06 17.06 17.02 16.99
Other services
26.87 26.81 26.32 26.38 26.45 26.44







Source: Department of Labor
Picture Autor: (Flickr by Brad & Sabrina at http://flickr.com/photos/19078064@N00/184665954)




     
       
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