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.
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Labor force
|
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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 %.
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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.
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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 |
|
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