Jobs Report

[Crabtownboy]

Just for information. There is ammunition on both sides of this issue.

In the past three months, job gains are averaging 154,000 per month. For all of 2013, the average monthly job gain was 194,000, according to BLS.

January job gains were strongest in construction (+48,000 jobs), professional and business services (+36,000), leisure and hospitality (+24,000) and manufacturing (+21,000).

Employment in health care was essentially unchanged in January for the second consecutive month. Health care added an average of 17,000 jobs per month in 2013.

Employment in retail trade was down by 13,000 jobs; within the industry, sporting goods, hobby, book, and music stores lost 22,000 jobs, offsetting job gains in the prior three months, BLS said. In January, motor vehicle and parts dealers added 7,000 jobs.

In January, federal government employment decreased by 12,000; the U.S. Postal Service accounted for a decline of 9,000 of those jobs.

One positive note in the otherwise disappointing January report is that the number of long-term unemployed — those jobless for 27 weeks or more — declined by 232,000 to 3.6 million. The number of long-term unemployed has declined by 1.1 million over the year. The long-term unemployed still account for 35.8% of the unemployed.

Average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to $24.21. Over the year, average hourly earnings have risen by 46 cents, or 1.9%.

http://www.crainscleveland.com/article/20140207/FREE/140209848