June 2018 Jobs Report

June 2018 Jobs Report

June 2018 Jobs Report

We are officially at the mid-point of the year, and the labor market is still holding up strong. In June 2018, the U.S. added 213,000 jobs, beating economists projections of 195,000 jobs. This is largely the result of the increase in the labor force participation rate. 601,000 workers re-entered the workforce, increasing the labor force participation rate to 62.9%. However, there has been no sign of any trend thus far this year.

Revised jobs for April and May 2018

The Bureau also reported revised job gains for April and May of this year. April’s gains increased from 159,000 added jobs to 175,000 jobs and May’s jobs improved from 223,000 jobs added to 244,000. This is a net increase of 37,000 jobs for April and May combined. Over the past three months, job gains averaged a whopping 211,000 jobs.

Despite the strong job growth, the national unemployment rate slightly edged up to 4.0%. In the month of June, the number of unemployed persons increased by 499,000 people for a total of 6.6 million. A year ago to the date, the unemployment rate was at 4.3% with the number of unemployed Americans totaling 7.0 million.

Average hourly earnings increase

Average hourly earnings also increased by $0.05 or an average $26.98. Over the last year, average hourly earnings have increased by $0.72 or  2.7%.

Employment numbers by industry

Employment in the Professional & Business Services industry led the way in June with 50,000 added jobs.Over the last year, Professional & Business Services added a total of 521,000 jobs.

Manufacturing came in second with an added 36,000 jobs. Over the last year, the manufacturing industry added 285,000 jobs. Healthcare followed closely with 25,000 jobs added. Hospitals added 11,000 jobs and ambulatory services added 14,000. Construction added another 13,000 jobs and has gained a total of 282,000 jobs over the last 12 months.

Mining gained another 5,000 jobs, totaling gains of 95,000 jobs since a slump in October 2016. The Retail industry saw a major loss of 22,000 jobs for the month. This largely offsets the 25,000 jobs gained in May 2018.

The employment in other major industries, including wholesale trade, transportation and warehousing, information, financial activities, leisure and hospitality, and government showed little to no change over the month.

Check out our infographic below for more stats from the June 2018 Jobs Report:

June 2018 Jobs Report

May 2018 Jobs Report

May 2018 Jobs Report

May 2018 Jobs Report

The U.S. labor market added a whopping 223,000 nonfarm payroll jobs in the month of May, blowing away economists’ projections of 190,000. This is a substantial increase from the 159,000 jobs that were gained last month.

The national unemployment rate also slightly decreased to 3.8%, setting a newer 17-year low. This places the total number of unemployed Americans to 6.1 million, down 772,000 workers (or 0.5%) over the year. The labor force participation rate also edged down to 62.7%.

Revised jobs for March and April 2018

The Bureau of Labor Statistics revised March and April job numbers. The March revised numbers shot up from 135,000 to 155,000 jobs. April’s jobs were slightly decreased from 164,000 to 159,000 jobs. This generates a net gain of 15,000 jobs for the last two months.

Average hourly earnings increase

Average hourly earnings also slightly increased to 2.7% over the last 12 months, with average hourly earnings of $26.92. This is a $0.08 increase from April 2018 and a $0.71 increase over the year.

Employment numbers by industry

Employment in the retail and healthcare industries led the way in May with 31,000 and 29,000 jobs, respectively. Ambulatory health care services alone added 18,000 jobs and hospitals gained 6,000. Construction added another 25,000 jobs and has gained a total of 286,000 jobs over the last 12 months.

Professional and Technical services added 23,000 jobs with a total of 206,000 jobs over the last year. Manufacturing gained another 18,000 jobs and mining rose by 6,000 jobs. In fact, the mining industry has added over 91,000 jobs since October 2016.

The employment in other major industries, including wholesale trade, information, leisure and hospitality, financial activities, and government, showed little change over the month.

Check out our infographic below for more stats from the May 2018 Jobs Report:

May 2018 Jobs Report

April 2018 US Jobs Report

April 2018 Jobs Report

April 2018 US Jobs Report

The U.S. labor market added 164,000 jobs in April 2018, which is slightly below expectations. U.S. economists projected job growth of  192,000 jobs for the month. This is slightly disappointing compared to the average of 208,000 jobs gained over the last three months.

However, the national unemployment rate decreased to 3.9% for the month, its first drop in six months and a new 17-year low. This puts the total number of unemployed persons at 6.3 million. The labor force participation rate also edged down to 62.8%.

The Bureau of Labor Statistics revised February and March job numbers to 324,000 and 134,000, respectively. This generates a net gain of 30,000 jobs for the past two months.

Average hourly earnings also grew 2.7% over the last 12 months, with average hourly earnings for the month reaching $26.84, a $0.04 increase from March.

Employment in the professional and business industry led the way again with 54,000 jobs added this month. The manufacturing and healthcare industries followed with 24,000 jobs each. Manufacturing has netted 245,000 jobs over the last 12 months and healthcare added 305,000. In fact, ambulatory healthcare services added 17,000 jobs and hospitals added another 8,000.

The mining industry added 8,000 jobs, with a total of 86,000 jobs over the past year.

The employment in other major industries, including construction, wholesale trade, retail trade, transportation and warehousing, information, leisure and hospitality, financial activities, and government, showed little change over the month.

Check out our infographic below for more stats from the April 2018 Jobs Report:

April 2018 Jobs Report

March 2018 Jobs Report

March 2018 Jobs Report

March 2018 Jobs Report

The U.S. labor market added 103,000 jobs in March 2018, which is substantially slower than previous months and below expectations. U.S. economists projected job growth of 185,000 for the month. The job market is increasing at a slower rate compared to the previous two months. This is a huge slip from February’s gain of 326,000 jobs.

In fact, job gains in January and February were revised down by a combined of 50,000 jobs. The Department of Labor revised January’s gains from 239,000 jobs to 176,000 and February’s numbers increased from 313,000 jobs to 326,000.

The national unemployment rate remained 4.1% for the sixth month in a row and the lowest rate since 2000. However, this is slightly above economist’s prediction of 4.0% unemployment rate. The labor rate participation rate slightly decreased to 62.9%.

Employment in the professional and business industry gained 33,000 jobs followed by the manufacturing and healthcare industries with 22,000 jobs each. Jobs in the construction industry fell by 15,000 jobs and retail lost 4,000.

Additionally, job creation was skewed heavily to part-time, which rose by 310,000.  Full-time positions fell by 311,000, according to the household survey.

Check out our infographic below for more stats from the March 2018 Jobs Report:

March 2018 Jobs Report

February 2018 US Jobs Report

February 2018 Jobs Report

February 2018 US Jobs Report

The U.S. labor marketing is hot and shows no signs of slowing down. The U.S. economy added a staggering 313,00 jobs in the month of February 2018, blowing out projections of  195,000. This is the largest growth the nation has seen in a single month since July 2016 and a significant jump from January’s 239,000 new jobs.

The national unemployment rate remained 4.1% for the fifth month in a row. The unemployment rate for recent college graduates slightly rose to 20.%.

The Department of Labor also revised the job growth numbers of December 2018 and January, adding an additional 64,000 jobs. The labor rate participation rate slightly grew to at 63%.

Employment rose in construction, retail trade, professional & business services, manufacturing, financial activities, and mining. Jobs in the construction industry lead the way with 61,000 jobs created in February. Retail & professional and business services each gained 50,000 jobs.

The Commerce Department last week estimated that Gross Domestic Product grew 2.5% in the fourth quarter of 2017, which is short of the annual growth of the predicted 3%.

Check out our infographic below for more stats from the February 2018 Jobs Report:

February 2018 Jobs Report

February 2018 US Labor Statistics Infographic from Johnson Service Group