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Economy gains 304,000 jobs, but the unemployment rate climbs to 4.0 %

U.S. Employment Report



The nonfarm payrolls grew 304,000 in January, as faster hiring puts more money in the hands of consumers, what usually leads to an increase in spending, as the hiring in the private sector accelerates and the public sector creates new jobs.
In January U.S. economy created 304,000 and the unemployment rate ticked higher to 4.0 %, from 3.9 %, on the seasonally adjusted basis.

Companies in the private service providing sector hired 224,000 workers and payrolls in goods-producing industries rose by 72,000, bringing overall job growth in the pivate sector to 296,000. Hiring was strong accross the board in the January report, improvement in the private sector, was followed by the job growth in public sector, as the government hired 13,000 people.

As the year goes on, companies have been hiring at a faster clip as Americans increase spending and consumer confidence rises, economists have seen a steady improvement in the jobs market and recruiting activity.
Current report confirms positive trends in the nonfarm payrolls. The number of employed people decreased -0.16 % to 156,69 millions, the nondurable goods sector fared poorly by shedding -7,000 jobs.


At Jan. 2019 Total number of unemployed persons grew to 6.54 millions, an increase of 241.00 thousands or 3.83 % from Dec. 2018, Unemployment rate increased to 4.00 %, from 3.90% in previous month. In January 304,000 nonfarm payrolls were created.


Labor force
The January employment report showed a slight increase in workers' hourly wages by 0.11 % to $27.56, an increase of $0.03 from $27.53 in December on the seasonally adjusted basis, hourly earnings in the information sector rose the most to $41.92, the biggest decline took place in construction sector down to $30.19, 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.

The number of employed persons declined to 156.69 millions by 251.00 thousands or -0.16 % in Jan. 2019.

Total Labor force deacreased to 163.23 millions.
Average weekly earnings where $950.82 dollars, in Jan. 2019


Average Weekly Hours of Production


 Employement situation (Picture Autor: Flickr by Brad & Sabrina at http://flickr.com/photos/19078064@N00/184665954) Details of the January report just added to evidence of a sharp deterioration in labor conditions. The number of unemployed people jumped to 6.54 million, an increase of 241,000 from 6.29 in December by 3.83 % on the seasonally adjusted basis.
With jobs in scarce supply, nearly -11,000 workers dropped out of the labor force, lifting the percentage of civilians who have or want a job up to 63.20 % from 63.10 %.


Construction Industry grew to 39.90 hours per week, from Dec. 2018; Manufacturing Industry fell to 40.80 hours per week, Durable goods Industry fell to 41.80 hours per week, Nondurable goods Industry fell to 40.10 hours per week.

Average Weekly Hours of Production for private serviceproviding industry remained unchanged from Dec. 2018; Trade, transportation & utilities Industry fell to 34.20 hours per week, from Dec. 2018 .

Financial activities Industry Average Weekly Hours of Production moved up to 37.70 hours per week, from Dec. 2018.
Average workweek remained unchanged in January on the seasonally adjusted basis, the biggest increases occurred in construction up to 39.90 hours, the hours worked in durable goods manufacturers fell the most to 41.80 hours, reported by the U.S. Labor Department.
With modest increase in hourly earnings and unchanged in hours worked, average weekly earnings increased in the private sector to $950.82 from $949.79 in the previous month.

Information Industry Average Weekly Hours of Production fell to 35.90 hours per week, from Dec. 2018; Professional & business services Industry increased to 36.20 hours per week, from Dec. 2018;
Education & health services Industry remained unchanged from Dec. 2018; Leisure & hospitality Industry advanced to 26.10 hours per week, from Dec. 2018; Other services Industry remained unchanged from Dec. 2018.





Employment Situation
( in millions or %)
Jan. 2019

prel.
Dec. 2018

prel.
Nov. 2018

prel.
Oct. 2018

prel.
Sep. 2018

prel.
Aug. 2018

prel.
Unemployment rate
4 % 3.9 % 3.7 % 3.7 % 3.7 % 3.9 %
Number of unemployed persons
6.535 6.294 5.975 6.075 5.964 6.234
Number of Employed persons
156.694 156.945 156.795 156.562 155.962 155.542
Employment/population ratio
60.7 % 60.6 % 60.6 % 60.6 % 60.4 % 60.3 %
Civilian labor force
163.229 163.240 162.770 162.637 161.926 161.776
Participation rate
63.2 % 63.1 % 62.9 % 62.9 % 62.7 % 62.7 %
Civilian noninstitutional population
258.239 258.888 258.708 258.514 258.290 258.066
Persons who currently want a job outside CLF
5.254 5.327 5.397 5.309 5.237 5.389
EMPLOYMENT BY SELECTED INDUSTRY
(Over-the-month change, in thousands)
Jan. 2019
prel.
Dec. 2018
prel.
Nov. 2018
prel.
Oct. 2018
prel.
Sep. 2018
prel.
Aug. 2018
prel.
Nonfarm Payrolls
+304.0 +222.0 +155.0 +250.0 +134.0 +270.0
Total Private Payrolls
+296.0 +206.0 +161.0 +246.0 +121.0 +254.0
Goods-producing Payrolls
+72.0 +53.0 +29.0 +67.0 +46.0 +37.0
Mining & logging
+7.0 +5.0 -3.0 +5.0 +5.0 +6.0
Construction
+52.0 +28.0 +5.0 +30.0 +23.0 +26.0
Manufacturing Payrolls
+3.5 +3.6 +3.5 +3.5 +18.0 +5.0
Durable goods
+20.0 +17.0 +15.0 +21.0 +17.0 +5.0
Motor vehicles and parts
+0.7 +1.8 -0.8 +6.8 -0.4 +1.6
Nondurable goods
-7.0 +3.0 +12.0 +11.0 +1.0 -
Private service-providing Payrolls
+224.0 +153.0 +132.0 +179.0 +75.0 +217.0
Wholesale trade
+4.7 +10.9 +9.5 +9.1 +4.4 +21.3
Retail trade
+20.8 -12.0 +18.2 +2.4 -20.0 +11.5
Transportation and warehousing
+26.6 -4.9 +25.4 +24.8 +23.8 +21.3
Information
-4.0 -4.0 -8.0 +7.0 - -3.0
Financial activities
+13.0 +4.0 +6.0 +7.0 +13.0 +12.0
Professional and business services
+30.0 +29.0 +32.0 +35.0 +54.0 +65.0
Temporary help services
+1.0 +7.9 +8.3 +3.3 +10.6 +12.4
Education and health services
+55.0 +67.0 +34.0 +44.0 +18.0 +58.0
Health care and social assistance
+45.4 +55.5 +40.1 +46.7 +29.8 +42.4
Leisure and hospitality
+74.0 +55.0 +15.0 +42.0 -17.0 +21.0
Other services
-1.0 +9.0 -1.0 +9.0 +9.0 +9.0
Government Payrolls
+13.0 +16.0 +13.0 +16.0 +16.0 +16.0



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. 2019

prel.
Dec. 2018

prel.
Nov. 2018

prel.
Oct. 2018

prel.
Sep. 2018

prel.
Aug. 2018

prel.
Total private
950.82 949.79 940.84 941.85 939.78 937.02
Goods producing
1,158.73 1,161.16 1,147.74 1,144.52 1,142.91 1,145.75
Natural resources & mining
1,506.09 1,515.40 1,510.03 1,507.82 1,509.57 1,505.58
Construction
1,204.58 1,197.37 1,174.86 1,175.17 1,174.00 1,176.00
Manufacturing
1,110.17 1,117.80 1,109.76 1,106.09 1,104.46 1,107.16
Overtime hours
- - - - - -
Durable goods
1,197.99 1,238.83 1,152.13 1,367.52 1,160.76 1,220.08
Nondurable goods
990.07 998.63 995.81 992.07 993.34 995.81
Private serviceproviding
910.76 908.09 901.76 900.43 898.10 895.44
Trade, transportation & utilities
815.67 816.34 812.18 809.82 810.12 810.06
Wholesale trade
1,206.27 1,205.88 1,195.01 1,196.20 1,201.23 1,197.69
Retail trade
589.26 588.74 588.03 583.97 584.97 583.73
Transportation & warehousing
949.70 955.89 956.00 955.50 951.49 950.72
Utilities
1,755.68 1,759.60 1,729.65 1,726.10 1,720.41 1,708.26
 
Information
1,504.93 1,497.23 1,469.99 1,458.08 1,465.83 1,440.40
Financial activities
1,338.73 1,331.42 1,329.43 1,324.13 1,313.63 1,314.12
Professional & business services
1,194.96 1,190.22 1,184.44 1,185.91 1,180.11 1,178.30
Education & health services
905.19 901.56 894.88 897.27 893.31 891.99
Leisure & hospitality
425.43 423.02 420.94 420.47 417.56 418.38
Other services
796.54 793.99 784.10 783.15 778.46 778.36




Average weekly hours of production by Industry Jan. 2019

prel.
Dec. 2018

prel.
Nov. 2018

prel.
Oct. 2018

prel.
Sep. 2018

prel.
Aug. 2018

prel.
Total private
34.50 34.50 34.40 34.50 34.50 34.50
Goods producing
40.70 40.60 40.30 40.30 40.30 40.50
Natural resources & mining
46.10 46.30 45.80 45.90 45.80 46.00
Construction
39.90 39.40 38.80 38.90 38.90 39.20
Manufacturing
40.80 40.90 40.80 40.80 40.80 40.90
Overtime hours
- - - - - -
Durable goods
41.80 43.00 40.20 48.00 40.80 42.90
Nondurable goods
40.10 40.30 40.30 40.10 40.20 40.30
Private serviceproviding
33.30 33.30 33.30 33.30 33.30 33.30
Trade, transportation & utilities
34.20 34.30 34.40 34.30 34.40 34.50
Wholesale trade
39.00 39.00 38.90 38.80 38.90 39.00
Retail trade
30.50 30.60 30.90 30.80 31.00 31.00
Transportation & warehousing
38.70 39.00 39.10 39.00 38.90 38.90
Utilities
42.50 42.40 42.30 42.10 41.90 41.90
 
Information
35.90 36.20 36.10 36.10 36.40 36.20
Financial activities
37.70 37.60 37.80 37.80 37.50 37.60
Professional & business services
36.20 36.10 36.10 36.20 36.10 36.10
Education & health services
33.00 33.00 32.90 33.00 33.00 33.00
Leisure & hospitality
26.10 26.00 26.00 26.10 26.00 26.10
Other services
31.90 31.90 31.90 31.90 31.80 31.90




Average hourly earnings ($) Jan. 2019

prel.
Dec. 2018

prel.
Nov. 2018

prel.
Oct. 2018

prel.
Sep. 2018

prel.
Aug. 2018

prel.
Total private
27.56 27.53 27.35 27.30 27.24 27.16
Goods producing
28.47 28.60 28.48 28.40 28.36 28.29
Natural resources & mining
32.67 32.73 32.97 32.85 32.96 32.73
Construction
30.19 30.39 30.28 30.21 30.18 30.00
Manufacturing
27.21 27.33 27.20 27.11 27.07 27.07
Overtime hours
- - - - - -
Durable goods
28.66 28.81 28.66 28.49 28.45 28.44
Nondurable goods
24.69 24.78 24.71 24.74 24.71 24.71
Private serviceproviding
27.35 27.27 27.08 27.04 26.97 26.89
Trade, transportation & utilities
23.85 23.80 23.61 23.61 23.55 23.48
Wholesale trade
30.93 30.92 30.72 30.83 30.88 30.71
Retail trade
19.32 19.24 19.03 18.96 18.87 18.83
Transportation & warehousing
24.54 24.51 24.45 24.50 24.46 24.44
Utilities
41.31 41.50 40.89 41.00 41.06 40.77
 
Information
41.92 41.36 40.72 40.39 40.27 39.79
Financial activities
35.51 35.41 35.17 35.03 35.03 34.95
Professional & business services
33.01 32.97 32.81 32.76 32.69 32.64
Education & health services
27.43 27.32 27.20 27.19 27.07 27.03
Leisure & hospitality
16.30 16.27 16.19 16.11 16.06 16.03
Other services
24.97 24.89 24.58 24.55 24.48 24.40







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




     
       
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