Employment Summary for September 2014

 

The first Friday of every month is when employment data is released. The September data looks encouraging and employment increased in professional and business services, retail trade and health care.

 

Employment increased by 248,000 in September compared with an average monthly gain of 213,000 over the prior 12 months and the unemployment rate decline by 0.2 percent to 5.9 percent. Business and professional services added 81,000 jobs in September as compared with an average gain of 56,000 per month over the prior 12 months. Employment in retail trade rose by 35,000 in September. The biggest news in retail is that food and beverage were able to add 20,000 jobs and put people back on payroll as a disruption in a New England grocery chain store was resolved. Health care added 23,000 jobs in September as employment in hospitals and health care services rose.

Although job opportunities went up in several industries, the demographics that mostly decreased their unemployment rate were white males (5.3%) and Hispanics (6.9%). The rates for women, teenagers and blacks have showed little change from the year earlier.

Among people who did not have jobs, there is a group of long-term unemployed, who have been jobless for more than 27 weeks and that was essentially unchanged at 3 million in September. This group accounts for 31.9% of the unemployed. Also among the unemployed, people who lost jobs and who completed temporary jobs decreased by 306,000in September to be at 4.5 million.

Then there is the part-time group that is also called the involuntary part-time workers, who would have preferred to have full time employment but were employed in a part-time job either because their hours were cut back or because they were unable to secure full-time employment and they remained constant at 7.1 million.

The group that is marginally attached to the labor force, meaning that they do want to work and are available for work but are not considered unemployed as they have not looked for jobs for at least 4 weeks were at 2.2 million. Good news is that the “discouraged workers” in this group, that is people who are not looking for work as they have given up hopes of finding a job went down by 154,000 in September from a year earlier to 698,000.

Employment in information increased as well as in construction, hospitality and finance. Jobs in food services and drinking places also increased and are up by 290,000 over the year.

So the outlook looks quite good and hopefully even better numbers will emerge for October. The jobs are there and growing so seize them! Get ready by sharpening your skills or acquiring new ones. Also, register with www.americasjobexchange.com to upload your resume to a database that is widely accessed by hundreds of employers looking for talent. You can also avail of our resume writing services. Additionally there are a wealth of seeker resources on our site like blogs and career articles and education resources and job scouts that you can access for a successful and fulfilling job search experience!

 

 

 

 

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